Ikena Oncology, Inc. (NASDAQ:IKNA) Short Interest Down 6.4% in June

Ikena Oncology, Inc. (NASDAQ:IKNA) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 1,320,000 shares, a drop of 6.4% from the June 15th total of 1,410,000 shares. Based on an average daily trading volume, of 343,900 shares, the days-to-cover ratio is currently 3.8 days. Currently, 5.6% of the shares of the company are short sold.

Ikena Oncology Stock Performance

IKNA traded down $0.03 during trading on Wednesday, reaching $1.70. The company’s stock had a trading volume of 53,276 shares, compared to its average volume of 359,626. Ikena Oncology has a 52-week low of $1.02 and a 52-week high of $6.80. The company’s fifty day moving average price is $1.60 and its 200-day moving average price is $1.51. The company has a market capitalization of $82.04 million, a price-to-earnings ratio of -1.08 and a beta of 0.48.

Ikena Oncology (NASDAQ:IKNA) last announced its quarterly earnings results on Monday, May 13th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.12. Equities analysts predict that Ikena Oncology will post -1.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wedbush lowered Ikena Oncology from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $8.00 to $2.00 in a report on Wednesday, May 29th. HC Wainwright lowered their price objective on Ikena Oncology from $11.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th.

Institutional Investors Weigh In On Ikena Oncology

Several institutional investors have recently modified their holdings of IKNA. SG Americas Securities LLC raised its position in shares of Ikena Oncology by 88.5% during the 4th quarter. SG Americas Securities LLC now owns 20,222 shares of the company’s stock worth $40,000 after purchasing an additional 9,495 shares during the last quarter. Marquette Asset Management LLC acquired a new position in shares of Ikena Oncology during the 1st quarter worth approximately $104,000. Acadian Asset Management LLC raised its position in shares of Ikena Oncology by 1,201.8% during the 1st quarter. Acadian Asset Management LLC now owns 282,782 shares of the company’s stock worth $400,000 after purchasing an additional 261,060 shares during the last quarter. Vestal Point Capital LP acquired a new position in shares of Ikena Oncology during the 4th quarter worth approximately $636,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Ikena Oncology by 813.7% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 513,440 shares of the company’s stock worth $729,000 after purchasing an additional 457,245 shares during the last quarter. Hedge funds and other institutional investors own 75.00% of the company’s stock.

Ikena Oncology Company Profile

Ikena Oncology, Inc operates as an oncology company that develops differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the United States. Its lead program is IK-930, an internally discovered, oral, TEAD1-selective, small molecule inhibitor of the Hippo pathway.