Inhibikase Therapeutics, Inc. $IKT Position Boosted by Kalehua Capital Management LLC

Kalehua Capital Management LLC lifted its holdings in shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) by 118.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,821,890 shares of the company’s stock after acquiring an additional 2,071,890 shares during the quarter. Inhibikase Therapeutics accounts for about 4.6% of Kalehua Capital Management LLC’s holdings, making the stock its 8th largest position. Kalehua Capital Management LLC owned about 2.89% of Inhibikase Therapeutics worth $6,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IKT. Rangeley Capital LLC purchased a new stake in shares of Inhibikase Therapeutics during the 1st quarter valued at $370,000. Renaissance Technologies LLC purchased a new stake in Inhibikase Therapeutics during the first quarter worth about $28,000. Sei Investments Co. bought a new stake in Inhibikase Therapeutics in the first quarter worth about $81,000. Bank of New York Mellon Corp raised its position in Inhibikase Therapeutics by 55.1% in the first quarter. Bank of New York Mellon Corp now owns 213,208 shares of the company’s stock worth $358,000 after acquiring an additional 75,723 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Inhibikase Therapeutics in the first quarter valued at about $26,000. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Price Performance

Inhibikase Therapeutics stock opened at $2.33 on Monday. The firm has a market capitalization of $307.63 million, a P/E ratio of -5.42 and a beta of 0.94. Inhibikase Therapeutics, Inc. has a one year low of $1.33 and a one year high of $2.53. The business has a fifty day moving average price of $1.86 and a 200-day moving average price of $1.81.

Inhibikase Therapeutics (NASDAQ:IKT) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). Sell-side analysts expect that Inhibikase Therapeutics, Inc. will post -0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

About Inhibikase Therapeutics

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.