Inhibikase Therapeutics (NYSE:IKT) Shares Up 4.9% – What’s Next?

Shares of Inhibikase Therapeutics, Inc. (NYSE:IKT) were up 4.9% during trading on Monday . The stock traded as high as $2.40 and last traded at $2.36. Approximately 175,997 shares traded hands during trading, a decline of 20% from the average daily volume of 220,970 shares. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

Separately, HC Wainwright downgraded shares of Inhibikase Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, February 12th.

Inhibikase Therapeutics Stock Up 4.2 %

The company has a market capitalization of $171.32 million, a price-to-earnings ratio of -0.93 and a beta of 1.04. The stock’s fifty day moving average price is $2.49 and its 200-day moving average price is $2.34.

Hedge Funds Weigh In On Inhibikase Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Stifel Financial Corp bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $43,000. Jefferies Financial Group Inc. bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $48,000. Alpine Global Management LLC bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $48,000. Caxton Corp bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $53,000. Finally, Squarepoint Ops LLC bought a new position in shares of Inhibikase Therapeutics in the fourth quarter valued at $92,000. 3.81% of the stock is owned by institutional investors.

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.