Parkman Healthcare Partners LLC Makes New $3.34 Million Investment in Eikon Therapeutics, Inc. $EIKN

Parkman Healthcare Partners LLC purchased a new stake in Eikon Therapeutics, Inc. (NASDAQ:EIKN) during the second quarter, Holdings Channel reports. The institutional investor purchased 256,053 shares of the company’s stock, valued at approximately $3,341,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EIKN. Bank of New York Mellon Corp purchased a new position in shares of Eikon Therapeutics in the 2nd quarter valued at about $624,000. Deutsche Bank AG purchased a new stake in shares of Eikon Therapeutics during the second quarter worth approximately $281,000. BlackRock Inc. increased its stake in shares of Eikon Therapeutics by 29.0% during the second quarter. BlackRock Inc. now owns 4,281,425 shares of the company’s stock worth $55,873,000 after buying an additional 962,046 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Eikon Therapeutics by 23.5% in the second quarter. The Manufacturers Life Insurance Company now owns 35,357 shares of the company’s stock valued at $461,000 after acquiring an additional 6,734 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Eikon Therapeutics in the second quarter valued at approximately $28,000.

Eikon Therapeutics Price Performance

Shares of NASDAQ EIKN opened at $11.16 on Tuesday. The stock has a market cap of $604.48 million and a P/E ratio of -2.73. The business’s 50-day simple moving average is $10.37. Eikon Therapeutics, Inc. has a 1 year low of $7.90 and a 1 year high of $17.40.

Eikon Therapeutics (NASDAQ:EIKN) last released its quarterly earnings data on Thursday, August 13th. The company reported ($1.63) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.61) by ($0.02). Equities analysts anticipate that Eikon Therapeutics, Inc. will post -7.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings upgraded shares of Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a report on Monday, August 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Eikon Therapeutics in a research report on Friday. Finally, Wedbush reduced their price objective on shares of Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating on the stock in a report on Friday, August 14th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $25.00.

About Eikon Therapeutics

We are a late-stage clinical biopharmaceutical company dedicated to building a global, fully-integrated organization developing important, innovative medicines to address serious unmet medical needs. We are led by world-renowned drug developers Dr. Roger M. Perlmutter, M.D., Ph.D., and Dr. Roy Baynes, M.D., Ph.D. Our vision is to become a generational leader, by purposefully integrating traditional biology research with advanced engineering to develop better medicines faster. Our initial focus is oncology, where we are advancing a pipeline of drug candidates targeting areas of high unmet need in large indications.