Whitehawk Therapeutics (NASDAQ:WHWK) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Key Points

• Whitehawk Therapeutics beat quarterly EPS estimates, reporting a loss of $0.20 per share versus the consensus loss estimate of $0.30.
• Shares rose 15.5% to $4.70 following the results, while the company’s market capitalization reached approximately $232.4 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $8.20; institutional investors own 52.08% of the stock.

Whitehawk Therapeutics (NASDAQ:WHWK - Get Free Report) released its earnings results on Thursday. The company reported ($0.20) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.10, Zacks reports.

Whitehawk Therapeutics Stock Up 15.5%

WHWK stock traded up $0.63 during midday trading on Thursday, hitting $4.70. The company's stock had a trading volume of 308,563 shares, compared to its average volume of 431,950. The stock has a market cap of $232.41 million, a price-to-earnings ratio of -2.80 and a beta of 0.76. The stock's 50-day moving average price is $4.11 and its 200 day moving average price is $3.78. Whitehawk Therapeutics has a 1 year low of $1.57 and a 1 year high of $5.49.

Analyst Ratings Changes

WHWK has been the subject of several recent analyst reports. Leerink Partners began coverage on shares of Whitehawk Therapeutics in a research note on Monday, July 13th. They issued an "outperform" rating and a $9.00 target price for the company. B. Riley Financial started coverage on shares of Whitehawk Therapeutics in a research report on Thursday, June 25th. They set a "buy" rating and a $10.00 price target on the stock. Wall Street Zen cut shares of Whitehawk Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Oppenheimer reaffirmed an "outperform" rating and issued a $7.00 price objective on shares of Whitehawk Therapeutics in a research report on Friday, May 8th. Finally, Citigroup began coverage on shares of Whitehawk Therapeutics in a research note on Thursday, April 16th. They issued an "outperform" rating for the company. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $8.20.

Institutional Investors Weigh In On Whitehawk Therapeutics

Hedge funds have recently made changes to their positions in the business. Orbimed Advisors LLC bought a new position in Whitehawk Therapeutics during the third quarter worth about $7,915,000. Acuta Capital Partners LLC bought a new stake in Whitehawk Therapeutics during the 3rd quarter worth approximately $6,480,000. KVP Capital Advisors LP purchased a new stake in shares of Whitehawk Therapeutics in the fourth quarter worth $5,242,000. Yu Fan purchased a new stake in shares of Whitehawk Therapeutics in the 3rd quarter valued at about $3,933,000. Finally, Vanguard Group Inc. bought a new stake in Whitehawk Therapeutics during the third quarter valued at approximately $2,552,000. 52.08% of the stock is currently owned by institutional investors.

Whitehawk Therapeutics Company Profile

Aadi Bioscience, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug candidate, FYARRO is a form of sirolimus bound to albumin. Aadi is evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway. The company was incorporated in 2007 and is headquartered in Pacific Palisades, California.

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