Ikena Oncology, Inc. (NASDAQ:IKNA) Sees Large Decrease in Short Interest

Ikena Oncology, Inc. (NASDAQ:IKNA) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 351,500 shares, a decline of 10.7% from the July 15th total of 393,700 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average trading volume of 295,600 shares, the days-to-cover ratio is currently 1.2 days.

Ikena Oncology Stock Down 1.8 %

Shares of IKNA traded down $0.03 during midday trading on Monday, hitting $1.68. The company had a trading volume of 60,734 shares, compared to its average volume of 319,360. The company’s 50 day moving average price is $1.68 and its 200 day moving average price is $1.51. The stock has a market cap of $81.07 million, a price-to-earnings ratio of -1.06 and a beta of 0.48. Ikena Oncology has a 52 week low of $1.02 and a 52 week high of $5.21.

Institutional Investors Weigh In On Ikena Oncology

A number of institutional investors have recently modified their holdings of IKNA. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Ikena Oncology during the 2nd quarter valued at about $30,000. BBR Partners LLC acquired a new position in Ikena Oncology during the 2nd quarter valued at about $33,000. AQR Capital Management LLC acquired a new position in Ikena Oncology during the 2nd quarter valued at about $36,000. SG Americas Securities LLC boosted its stake in Ikena Oncology by 88.5% during the 4th quarter. SG Americas Securities LLC now owns 20,222 shares of the company’s stock valued at $40,000 after purchasing an additional 9,495 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Ikena Oncology during the 2nd quarter valued at about $75,000. Institutional investors own 75.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. HC Wainwright reiterated a “buy” rating and issued a $4.00 price objective on shares of Ikena Oncology in a report on Monday, August 12th. Wedbush lowered shares of Ikena Oncology from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $8.00 to $2.00 in a report on Wednesday, May 29th.

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.