Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) Sees Significant Decline in Short Interest

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 2,981,829 shares, a decline of 40.7% from the August 15th total of 5,032,431 shares. Based on an average daily volume of 238,372 shares, the short-interest ratio is presently 12.5 days. Approximately 10.4% of the company’s shares are sold short.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WHWK shares. Wall Street Zen upgraded shares of Whitehawk Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. B. Riley Financial started coverage on shares of Whitehawk Therapeutics in a research report on Thursday, June 25th. They issued a “buy” rating and a $10.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Whitehawk Therapeutics in a research report on Wednesday, September 2nd. Finally, Leerink Partners initiated coverage on Whitehawk Therapeutics in a research note on Monday, July 13th. They set an “outperform” rating and a $9.00 price objective on the stock. Six research analysts have rated the stock with 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, Whitehawk Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $8.20.

Institutional Trading of Whitehawk Therapeutics

Several hedge funds have recently added to or reduced their stakes in WHWK. Montanova Capital LLC lifted its stake in shares of Whitehawk Therapeutics by 16.2% during the 2nd quarter. Montanova Capital LLC now owns 4,300,000 shares of the company’s stock valued at $19,694,000 after buying an additional 600,000 shares in the last quarter. BlackRock Inc. bought a new position in shares of Whitehawk Therapeutics during the second quarter valued at about $8,807,000. ADAR1 Capital Management LLC purchased a new stake in Whitehawk Therapeutics during the 2nd quarter valued at $6,144,000. Eversept Partners LP increased its stake in shares of Whitehawk Therapeutics by 17.9% during the first quarter. Eversept Partners LP now owns 306,800 shares of the company’s stock valued at $1,058,000 after buying an additional 46,541 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Whitehawk Therapeutics during the 2nd quarter valued at approximately $378,000. Institutional investors own 52.08% of the company’s stock.

Whitehawk Therapeutics Trading Up 2.1%

Whitehawk Therapeutics stock traded up $0.09 during mid-day trading on Friday, reaching $4.17. The company had a trading volume of 37,307 shares, compared to its average volume of 313,204. The business has a fifty day simple moving average of $4.30 and a 200 day simple moving average of $4.13. Whitehawk Therapeutics has a fifty-two week low of $1.82 and a fifty-two week high of $5.49. The company has a market cap of $237.45 million, a P/E ratio of -3.71 and a beta of 0.81.

Whitehawk Therapeutics (NASDAQ:WHWK) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.20) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.10. Research analysts forecast that Whitehawk Therapeutics will post -1.1 EPS for the current year.

About Whitehawk Therapeutics

Whitehawk Therapeutics (NASDAQ: WHWK) is a clinical-stage biopharmaceutical company focused on developing new medicines for cancer. Its research is centered on antibody-drug conjugates, which are designed to use targeted antibodies to deliver cancer-killing agents directly to tumor cells.

The company is advancing a pipeline of oncology therapies intended to address cancers with significant unmet medical needs. Its activities include drug discovery, preclinical research and clinical development, with programs designed to evaluate the safety and potential effectiveness of its targeted therapeutic candidates.

Whitehawk Therapeutics is an early-stage biotechnology company, and its pipeline remains subject to the clinical, regulatory and commercialization risks associated with developing experimental medicines.