Inhibikase Therapeutics (NASDAQ:IKT) Shares Down 2.9% – Time to Sell?

Shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) were down 2.9% on Friday . The stock traded as low as $1.6850 and last traded at $1.69. Approximately 508,913 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 749,074 shares. The stock had previously closed at $1.74.

Wall Street Analysts Forecast Growth

IKT has been the subject of a number of analyst reports. LADENBURG THALM/SH SH began coverage on Inhibikase Therapeutics in a research note on Wednesday, March 4th. They set a “buy” rating and a $4.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st. Finally, Lifesci Capital raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, February 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Inhibikase Therapeutics has a consensus rating of “Buy” and a consensus price target of $5.50.

Inhibikase Therapeutics Trading Down 2.9%

The business has a fifty day moving average of $1.80 and a 200-day moving average of $1.73. The company has a market cap of $223.14 million, a PE ratio of -3.93 and a beta of 0.96.

Inhibikase Therapeutics (NASDAQ:IKT) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). As a group, research analysts predict that Inhibikase Therapeutics, Inc. will post -0.46 EPS for the current year.

Institutional Trading of Inhibikase Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new position in Inhibikase Therapeutics during the 4th quarter valued at $26,000. SG Americas Securities LLC purchased a new stake in shares of Inhibikase Therapeutics in the 1st quarter worth about $26,000. BNP Paribas Financial Markets lifted its position in shares of Inhibikase Therapeutics by 70.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock worth $25,000 after purchasing an additional 6,458 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Inhibikase Therapeutics during the 1st quarter valued at about $28,000. Finally, XTX Topco Ltd bought a new stake in shares of Inhibikase Therapeutics during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 3.81% of the company’s stock.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc, a clinical stage pharmaceutical company, develops therapeutics for Parkinson’s Disease (PD) and related disorders that arise inside and outside of the brain. The company’s product candidates include IkT-148009, a small molecule Abelson tyrosine kinase inhibitor for use in the treatment of PD, as well as gastrointestinal complications that arise as early symptoms of PD, such as swallowing, dysphagia, neurogenic constipation, and multiple system atrophy; and IkT-001Pro, a prodrug of the anti-cancer agent Imatinib that is in preclinical development to minimize gastrointestinal side effects and for the treatment of blood and stomach cancers.