Inhibikase Therapeutics (NYSE:IKT) Cut to Neutral at HC Wainwright

HC Wainwright lowered shares of Inhibikase Therapeutics (NYSE:IKT) from a buy rating to a neutral rating in a research report released on Wednesday morning, Marketbeat reports.

Separately, Jefferies Financial Group initiated coverage on shares of Inhibikase Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $8.00 price objective for the company.

Inhibikase Therapeutics Stock Performance

IKT stock opened at $2.26 on Wednesday. The firm has a fifty day moving average price of $2.91 and a 200 day moving average price of $2.17. Inhibikase Therapeutics has a fifty-two week low of $1.12 and a fifty-two week high of $4.20. The firm has a market cap of $156.75 million, a PE ratio of -0.85 and a beta of 1.06.

Hedge Funds Weigh In On Inhibikase Therapeutics

An institutional investor recently raised its position in Inhibikase Therapeutics stock. Blair William & Co. IL increased its stake in Inhibikase Therapeutics, Inc. (NYSE:IKT) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 134,953 shares of the company’s stock after buying an additional 8,833 shares during the quarter. Blair William & Co. IL owned about 0.19% of Inhibikase Therapeutics worth $439,000 as of its most recent SEC filing. 3.81% of the stock is currently owned by institutional investors and hedge funds.

About Inhibikase Therapeutics

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.