SummitTX Capital L.P. Acquires New Position in Inhibikase Therapeutics, Inc. $IKT

SummitTX Capital L.P. acquired a new position in shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,524,536 shares of the company’s stock, valued at approximately $2,561,000. SummitTX Capital L.P. owned 1.15% of Inhibikase Therapeutics as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IKT. BNP Paribas Financial Markets raised its position in shares of Inhibikase Therapeutics by 70.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after purchasing an additional 6,458 shares during the period. Sanctuary Advisors LLC acquired a new position in Inhibikase Therapeutics during the 4th quarter valued at approximately $26,000. SG Americas Securities LLC acquired a new position in Inhibikase Therapeutics during the 1st quarter valued at approximately $26,000. Renaissance Technologies LLC acquired a new position in Inhibikase Therapeutics during the 1st quarter valued at approximately $28,000. Finally, XTX Topco Ltd bought a new position in Inhibikase Therapeutics during the 4th quarter worth $42,000. Institutional investors own 3.81% of the company’s stock.

Analyst Upgrades and Downgrades

IKT has been the topic of several analyst reports. Oppenheimer assumed coverage on Inhibikase Therapeutics in a research report on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 target price on the stock. Wall Street Zen raised shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a report on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Friday, July 17th. Finally, LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. Four analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $5.40.

Inhibikase Therapeutics Trading Down 1.7%

NASDAQ IKT opened at $2.31 on Wednesday. The stock’s 50-day moving average price is $1.89 and its two-hundred day moving average price is $1.82. The company has a market cap of $304.99 million, a PE ratio of -5.37 and a beta of 0.94. Inhibikase Therapeutics, Inc. has a 1 year low of $1.33 and a 1 year high of $2.53.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its earnings results on Tuesday, May 12th. The company reported ($0.10) EPS for the quarter, hitting the consensus estimate of ($0.10). Research analysts forecast that Inhibikase Therapeutics, Inc. will post -0.42 EPS for the current fiscal year.

Inhibikase Therapeutics Profile

Inhibikase Therapeutics, Inc, a clinical stage pharmaceutical company, develops therapeutics for Parkinson’s Disease (PD) and related disorders that arise inside and outside of the brain. The company’s product candidates include IkT-148009, a small molecule Abelson tyrosine kinase inhibitor for use in the treatment of PD, as well as gastrointestinal complications that arise as early symptoms of PD, such as swallowing, dysphagia, neurogenic constipation, and multiple system atrophy; and IkT-001Pro, a prodrug of the anti-cancer agent Imatinib that is in preclinical development to minimize gastrointestinal side effects and for the treatment of blood and stomach cancers.