According to Zacks, “Ikena Oncology Inc. is focused on developing cancer therapies targeting key signaling pathways which drive the formation and spread of cancer. The company’s product candidates include IK-930, IK-175, IK-412 and IK-007, which are in clinical stage. Ikena Oncology Inc. is based in Boston, United States. “
Separately, HC Wainwright began coverage on Ikena Oncology in a report on Thursday, December 23rd. They set a buy rating and a $25.00 price target on the stock. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $21.33.
Ikena Oncology (NASDAQ:IKNA) last announced its quarterly earnings results on Wednesday, November 10th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.02. The business had revenue of $3.75 million for the quarter, compared to analysts’ expectations of $2.92 million. On average, analysts expect that Ikena Oncology will post -2.87 earnings per share for the current fiscal year.
In other news, Director Jean Francois Formela sold 11,989 shares of the business’s stock in a transaction that occurred on Friday, December 10th. The stock was sold at an average price of $15.03, for a total value of $180,194.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Venture Fund Xi L.P. Atlas sold 5,959 shares of the business’s stock in a transaction that occurred on Tuesday, December 14th. The stock was sold at an average price of $14.00, for a total value of $83,426.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,314 shares of company stock worth $400,764.
Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its position in shares of Ikena Oncology by 787.6% in the 3rd quarter. Morgan Stanley now owns 3,231 shares of the company’s stock worth $41,000 after purchasing an additional 2,867 shares in the last quarter. JPMorgan Chase & Co. bought a new position in Ikena Oncology in the 2nd quarter valued at approximately $49,000. Wells Fargo & Company MN bought a new position in Ikena Oncology in the 2nd quarter valued at approximately $59,000. Bank of America Corp DE bought a new position in Ikena Oncology in the 2nd quarter valued at approximately $60,000. Finally, Bank of New York Mellon Corp lifted its position in Ikena Oncology by 26.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 22,874 shares of the company’s stock valued at $288,000 after acquiring an additional 4,801 shares in the last quarter. 58.16% of the stock is currently owned by hedge funds and other institutional investors.
About Ikena Oncology
Ikena Oncology, Inc, a targeted oncology company, focuses on developing novel cancer therapies targeting key signaling pathways that drive the formation and spread of cancer. Its lead targeted oncology product candidate is IK-930, an oral small molecule inhibitor of the transcriptional enhanced associate domain, transcription factor in the Hippo signaling pathway.
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