Inhibikase Therapeutics (NYSE:IKT) Trading 3.4% Higher – Should You Buy?

Shares of Inhibikase Therapeutics, Inc. (NYSE:IKT) traded up 3.4% during trading on Thursday . The stock traded as high as $3.10 and last traded at $3.06. 101,946 shares were traded during mid-day trading, a decline of 53% from the average session volume of 218,464 shares. The stock had previously closed at $2.96.

Analyst Ratings Changes

IKT has been the subject of several analyst reports. HC Wainwright reduced their price objective on shares of Inhibikase Therapeutics from $15.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Jefferies Financial Group initiated coverage on Inhibikase Therapeutics in a research note on Friday, November 8th. They set a “buy” rating and a $8.00 price target for the company.

Inhibikase Therapeutics Trading Down 0.3 %

The firm’s fifty day moving average is $2.75 and its 200 day moving average is $1.86. The stock has a market cap of $204.94 million, a P/E ratio of -1.14 and a beta of 1.16.

Insider Activity at Inhibikase Therapeutics

In related news, Director Arvind Kush acquired 145,000 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were bought at an average cost of $1.37 per share, with a total value of $198,650.00. Following the completion of the acquisition, the director now owns 145,000 shares of the company’s stock, valued at $198,650. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.59% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Inhibikase Therapeutics stock. Armistice Capital LLC purchased a new stake in Inhibikase Therapeutics, Inc. (NYSE:IKT) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 589,575 shares of the company’s stock, valued at approximately $713,000. Armistice Capital LLC owned approximately 8.17% of Inhibikase Therapeutics as of its most recent SEC filing. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc, a clinical-stage pharmaceutical company, develops therapeutics for Parkinson’s disease and related disorders. Its lead product candidate is IkT-148009, a non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson’s disease and gastrointestinal tract.