Perceptive Advisors LLC Sells 3,106,568 Shares of Inhibikase Therapeutics, Inc. $IKT

Perceptive Advisors LLC lessened its holdings in shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) by 57.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,315,000 shares of the company’s stock after selling 3,106,568 shares during the period. Perceptive Advisors LLC’s holdings in Inhibikase Therapeutics were worth $3,889,000 at the end of the most recent reporting period.

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

Inhibikase Therapeutics Stock Performance

IKT stock opened at $2.18 on Friday. Inhibikase Therapeutics, Inc. has a fifty-two week low of $1.33 and a fifty-two week high of $2.53. The business’s 50 day moving average price is $1.92 and its two-hundred day moving average price is $1.83. The company has a market capitalization of $287.83 million, a price-to-earnings ratio of -5.07 and a beta of 0.94.

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Oppenheimer initiated coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of Inhibikase Therapeutics in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Friday, July 17th. Wall Street Zen raised shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 26th. Finally, LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Inhibikase Therapeutics presently has an average rating of “Buy” and a consensus price target of $5.40.

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.