Short Interest in Ikena Oncology, Inc. (NASDAQ:IKNA) Drops By 11.8%

Ikena Oncology, Inc. (NASDAQ:IKNA) was the recipient of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 114,900 shares, a decrease of 11.8% from the January 15th total of 130,200 shares. Based on an average daily trading volume, of 226,200 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.6% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. BML Capital Management LLC raised its holdings in shares of Ikena Oncology by 395.8% during the 4th quarter. BML Capital Management LLC now owns 3,585,866 shares of the company’s stock valued at $5,881,000 after buying an additional 2,862,578 shares during the period. Gilead Sciences Inc. acquired a new stake in Ikena Oncology in the fourth quarter valued at approximately $3,294,000. NEA Management Company LLC raised its stake in shares of Ikena Oncology by 5.3% during the third quarter. NEA Management Company LLC now owns 600,063 shares of the company’s stock valued at $1,038,000 after purchasing an additional 30,013 shares during the period. Peapod Lane Capital LLC acquired a new position in shares of Ikena Oncology during the fourth quarter worth $833,000. Finally, Geode Capital Management LLC boosted its stake in shares of Ikena Oncology by 21.0% in the fourth quarter. Geode Capital Management LLC now owns 327,962 shares of the company’s stock valued at $538,000 after purchasing an additional 56,936 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on IKNA shares. Wedbush restated a “neutral” rating and set a $2.00 price target on shares of Ikena Oncology in a research note on Monday, December 23rd. HC Wainwright reissued a “buy” rating and set a $4.00 target price on shares of Ikena Oncology in a research report on Monday, November 11th.

Ikena Oncology Stock Performance

Ikena Oncology stock traded up $0.01 during trading on Tuesday, reaching $1.50. 51,997 shares of the company’s stock were exchanged, compared to its average volume of 169,087. Ikena Oncology has a 52-week low of $1.22 and a 52-week high of $1.94. The firm has a market cap of $72.15 million, a price-to-earnings ratio of -1.22 and a beta of 0.48. The company’s 50-day moving average is $1.54 and its two-hundred day moving average is $1.64.

Ikena Oncology Company Profile

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.