Eikon Therapeutics (NASDAQ:EIKN) Major Shareholder Acquires 89,200 Shares of Stock

Eikon Therapeutics, Inc. (NASDAQ:EIKN) major shareholder Group Iv Gp Lp Column bought 89,200 shares of the stock in a transaction dated Thursday, September 3rd. The shares were acquired at an average cost of $11.56 per share, for a total transaction of $1,031,152.00. Following the completion of the acquisition, the insider directly owned 89,200 shares of the company’s stock, valued at approximately $1,031,152. This trade represents a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Eikon Therapeutics Stock Performance

Shares of NASDAQ EIKN traded down $0.15 during trading hours on Tuesday, hitting $10.71. 462,105 shares of the stock were exchanged, compared to its average volume of 382,953. Eikon Therapeutics, Inc. has a 1-year low of $7.90 and a 1-year high of $17.40. The company has a market cap of $580.16 million and a PE ratio of -2.62. The company’s fifty day simple moving average is $10.60 and its two-hundred day simple moving average is $10.92.

Eikon Therapeutics (NASDAQ:EIKN) last posted its earnings results on Thursday, August 13th. The company reported ($1.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.02). As a group, sell-side analysts expect that Eikon Therapeutics, Inc. will post -7.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Eikon Therapeutics

Institutional investors have recently modified their holdings of the business. Legal & General Group Plc bought a new position in shares of Eikon Therapeutics during the 2nd quarter valued at $28,000. California State Teachers Retirement System bought a new position in Eikon Therapeutics in the 2nd quarter worth approximately $51,000. Citadel Advisors LLC bought a new stake in shares of Eikon Therapeutics in the second quarter worth about $170,000. Deutsche Bank AG purchased a new position in shares of Eikon Therapeutics in the second quarter valued at $281,000. Finally, The Manufacturers Life Insurance Company increased its stake in Eikon Therapeutics by 23.5% during the second quarter. The Manufacturers Life Insurance Company now owns 35,357 shares of the company’s stock worth $461,000 after acquiring an additional 6,734 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on EIKN shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eikon Therapeutics in a report on Friday, August 21st. Wedbush dropped their price objective on Eikon Therapeutics from $5.00 to $4.00 and set an “underperform” rating on the stock in a research note on Friday, August 14th. Finally, Weiss Ratings upgraded Eikon Therapeutics from a “sell (e-)” rating to a “sell (e)” rating in a research report on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.