Short Interest in Ikena Oncology, Inc. (NASDAQ:IKNA) Grows By 9.7%

Ikena Oncology, Inc. (NASDAQ:IKNA) was the target of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 90,600 shares, a growth of 9.7% from the November 15th total of 82,600 shares. Based on an average trading volume of 58,300 shares, the days-to-cover ratio is presently 1.6 days. Currently, 0.3% of the company’s shares are sold short.

Institutional Trading of Ikena Oncology

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Ikena Oncology by 5.6% during the third quarter. Geode Capital Management LLC now owns 271,026 shares of the company’s stock valued at $469,000 after purchasing an additional 14,319 shares during the period. NEA Management Company LLC boosted its position 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 worth $1,038,000 after purchasing an additional 30,013 shares in the last quarter. BBR Partners LLC grew its holdings in shares of Ikena Oncology by 550.0% in the 3rd quarter. BBR Partners LLC now owns 130,000 shares of the company’s stock valued at $225,000 after buying an additional 110,000 shares during the period. FMR LLC grew its holdings in shares of Ikena Oncology by 94.1% in the 3rd quarter. FMR LLC now owns 38,374 shares of the company’s stock valued at $66,000 after buying an additional 18,607 shares during the period. Finally, BML Capital Management LLC increased its position in shares of Ikena Oncology by 23.6% in the 3rd quarter. BML Capital Management LLC now owns 723,288 shares of the company’s stock valued at $1,251,000 after buying an additional 138,174 shares in the last quarter. 75.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on IKNA. Wedbush reiterated a “neutral” rating and issued a $2.00 price objective on shares of Ikena Oncology in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and issued a $4.00 target price on shares of Ikena Oncology in a research note on Monday, November 11th.

Ikena Oncology Stock Performance

Shares of Ikena Oncology stock opened at $1.61 on Tuesday. The firm has a fifty day moving average of $1.70 and a two-hundred day moving average of $1.70. The stock has a market capitalization of $77.70 million, a price-to-earnings ratio of -1.31 and a beta of 0.49. Ikena Oncology has a 52 week low of $1.22 and a 52 week high of $2.32.

Ikena Oncology (NASDAQ:IKNA) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. As a group, research analysts forecast that Ikena Oncology will post -0.91 EPS for the current fiscal year.

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.