Spruce Street Capital LP purchased a new position in shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT – Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,581,603 shares of the company’s stock, valued at approximately $7,342,000. Inhibikase Therapeutics makes up 2.4% of Spruce Street Capital LP’s investment portfolio, making the stock its 14th largest position. Spruce Street Capital LP owned 4.76% of Inhibikase Therapeutics as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the stock. Sands Capital Alternatives LLC raised its stake in shares of Inhibikase Therapeutics by 18.9% in the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after acquiring an additional 2,068,965 shares in the last quarter. Barclays PLC raised its stake in shares of Inhibikase Therapeutics by 10.8% in the 4th quarter. Barclays PLC now owns 94,795 shares of the company’s stock valued at $194,000 after acquiring an additional 9,217 shares in the last quarter. Nantahala Capital Management LLC raised its stake in shares of Inhibikase Therapeutics by 79.4% in the 4th quarter. Nantahala Capital Management LLC now owns 3,929,292 shares of the company’s stock valued at $8,055,000 after acquiring an additional 1,739,292 shares in the last quarter. Kalehua Capital Management LLC bought a new position in shares of Inhibikase Therapeutics in the 4th quarter valued at approximately $3,588,000. Finally, Exome Asset Management LLC bought a new position in shares of Inhibikase Therapeutics in the 4th quarter valued at approximately $1,230,000. 3.81% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on IKT. Oppenheimer began coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 price objective on the stock. Lifesci Capital raised Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd. LADENBURG THALM/SH SH began coverage on Inhibikase Therapeutics in a research note on Wednesday, March 4th. They issued a “buy” rating and a $4.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Tuesday, April 21st. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $5.40.
Inhibikase Therapeutics Price Performance
IKT opened at $1.67 on Tuesday. The firm has a market capitalization of $220.49 million, a P/E ratio of -3.88 and a beta of 0.93. The stock’s 50 day moving average price is $1.77 and its two-hundred day moving average price is $1.75. Inhibikase Therapeutics, Inc. has a 12-month low of $1.33 and a 12-month high of $2.26.
Inhibikase Therapeutics (NASDAQ:IKT – Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). As a group, analysts anticipate that Inhibikase Therapeutics, Inc. will post -0.4 earnings per share for the current year.
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.
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