Inhibikase Therapeutics (NASDAQ:IKT – Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01, FiscalAI reports.
Inhibikase Therapeutics Stock Performance
Shares of IKT opened at $1.55 on Wednesday. The stock’s 50-day moving average price is $1.95 and its two-hundred day moving average price is $1.93. Inhibikase Therapeutics has a 1 year low of $1.40 and a 1 year high of $2.61.
Institutional Investors Weigh In On Inhibikase Therapeutics
Several hedge funds have recently bought and sold shares of IKT. Alps Advisors Inc. increased its position in shares of Inhibikase Therapeutics by 37.0% in the 3rd quarter. Alps Advisors Inc. now owns 183,550 shares of the company’s stock valued at $377,000 after buying an additional 49,548 shares in the last quarter. Abel Hall LLC grew its stake in Inhibikase Therapeutics by 15.0% in the third quarter. Abel Hall LLC now owns 53,311 shares of the company’s stock valued at $110,000 after acquiring an additional 6,959 shares during the period. Spark Investment Management LLC acquired a new position in Inhibikase Therapeutics in the second quarter valued at about $31,000. Seven Fleet Capital Management LP increased its holdings in shares of Inhibikase Therapeutics by 6.5% in the second quarter. Seven Fleet Capital Management LP now owns 346,900 shares of the company’s stock worth $704,000 after acquiring an additional 21,300 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Inhibikase Therapeutics in the second quarter worth about $615,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
IKT has been the subject of several research reports. Wall Street Zen cut Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Thursday, October 15th. Chardan Capital set a $1.50 price target on Inhibikase Therapeutics and gave the company a “neutral” rating in a report on Tuesday, October 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a research report on Friday, July 31st. Three analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $4.75.
Check Out Our Latest Stock Analysis on Inhibikase Therapeutics
Inhibikase Therapeutics Company Profile
Inhibikase Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for neurodegenerative diseases. The company’s research is based on the role of Abelson tyrosine kinase, or c-Abl, and related disease mechanisms involved in the formation and spread of abnormal proteins associated with neurological disorders. Its lead investigational product, IKT-148009, is an orally administered, brain-penetrant c-Abl inhibitor being developed as a potential disease-modifying treatment for Parkinson’s disease and related synucleinopathies.
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