Short Interest in Ikena Oncology, Inc. (NASDAQ:IKNA) Grows By 11.2%

Ikena Oncology, Inc. (NASDAQ:IKNA) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 1,390,000 shares, a growth of 11.2% from the March 31st total of 1,250,000 shares. Currently, 5.5% of the shares of the company are sold short. Based on an average daily volume of 424,100 shares, the short-interest ratio is presently 3.3 days.

Institutional Investors Weigh In On Ikena Oncology

Several large investors have recently modified their holdings of IKNA. SG Americas Securities LLC boosted its stake in Ikena Oncology by 88.5% during the fourth quarter. SG Americas Securities LLC now owns 20,222 shares of the company’s stock worth $40,000 after acquiring an additional 9,495 shares in the last quarter. OUP Management Co. LLC bought a new position in Ikena Oncology during the third quarter worth $116,000. Bank of New York Mellon Corp boosted its stake in Ikena Oncology by 11.1% during the third quarter. Bank of New York Mellon Corp now owns 69,239 shares of the company’s stock worth $300,000 after acquiring an additional 6,901 shares in the last quarter. Vestal Point Capital LP bought a new position in Ikena Oncology during the fourth quarter worth $636,000. Finally, Barclays PLC boosted its stake in Ikena Oncology by 2.1% during the third quarter. Barclays PLC now owns 206,545 shares of the company’s stock worth $894,000 after acquiring an additional 4,343 shares in the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IKNA has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Ikena Oncology in a research note on Tuesday, March 19th. Wedbush reaffirmed an “outperform” rating and set a $8.00 target price on shares of Ikena Oncology in a report on Tuesday, March 12th.

Ikena Oncology Stock Performance

Shares of IKNA stock opened at $1.32 on Wednesday. The company has a market capitalization of $63.70 million, a price-to-earnings ratio of -0.80 and a beta of 0.33. Ikena Oncology has a 52 week low of $1.02 and a 52 week high of $7.64. The company has a 50-day simple moving average of $1.40 and a 200 day simple moving average of $1.85.

Ikena Oncology (NASDAQ:IKNA) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.41) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.41). The firm had revenue of $0.66 million for the quarter, compared to the consensus estimate of $2.39 million. Sell-side analysts forecast that Ikena Oncology will post -1.5 EPS for the current year.

About Ikena Oncology

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.