Inhibikase Therapeutics (NASDAQ:IKT) Stock Lifted to “Hold” by Chardan Capital

Chardan Capital upgraded shares of Inhibikase Therapeutics (NASDAQ:IKT) to a hold rating in a report released on Tuesday,Zacks reports.

Several other equities research analysts also recently commented on IKT. HC Wainwright reiterated a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a report on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 26th. Finally, LADENBURG THALM/SH SH raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Inhibikase Therapeutics Trading Down 4.6%

Shares of IKT opened at $1.76 on Tuesday. The business’s fifty day simple moving average is $2.28 and its two-hundred day simple moving average is $2.02. Inhibikase Therapeutics has a 12 month low of $1.33 and a 12 month high of $2.61. The company has a market cap of $245.59 million, a price-to-earnings ratio of -4.09 and a beta of 0.89.

Inhibikase Therapeutics (NASDAQ:IKT) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.02). As a group, research analysts forecast that Inhibikase Therapeutics will post -0.45 EPS for the current year.

Institutional Trading of Inhibikase Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Kalehua Capital Management LLC increased its position in shares of Inhibikase Therapeutics by 118.4% during the 1st quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock valued at $6,421,000 after purchasing an additional 2,071,890 shares during the last quarter. SummitTX Capital L.P. bought a new position in Inhibikase Therapeutics in the first quarter worth approximately $2,561,000. Ally Bridge Group NY LLC purchased a new position in shares of Inhibikase Therapeutics during the 1st quarter worth $2,226,000. Seven Fleet Capital Management LP purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter worth $1,094,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Inhibikase Therapeutics during the 2nd quarter worth $615,000. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for diseases associated with abnormal protein accumulation. The company’s research has centered on neurological disorders, including Parkinson’s disease and related synucleinopathies, as well as selected infectious and cancer-related indications.

Its lead investigational product, IkT-148009, is an orally administered, brain-penetrant inhibitor of Abelson tyrosine kinase, or c-Abl.