HC Wainwright Comments on Ikena Oncology, Inc.’s Q2 2023 Earnings (NASDAQ:IKNA)

Ikena Oncology, Inc. (NASDAQ:IKNA – Get Rating) – Equities research analysts at HC Wainwright upped their Q2 2023 earnings estimates for shares of Ikena Oncology in a research report issued to clients and investors on Wednesday, May 24th. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings of ($0.41) per share for the quarter, up from their prior forecast of ($0.46). HC Wainwright has a “Buy” rating and a $18.00 price target on the stock. The consensus estimate for Ikena Oncology’s current full-year earnings is ($1.48) per share. HC Wainwright also issued estimates for Ikena Oncology’s Q3 2023 earnings at ($0.46) EPS, FY2023 earnings at ($1.08) EPS, FY2024 earnings at ($0.94) EPS, FY2025 earnings at ($1.41) EPS, FY2026 earnings at ($1.22) EPS and FY2027 earnings at ($0.12) EPS.

Separately, Credit Suisse Group decreased their target price on shares of Ikena Oncology from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, March 15th.

Ikena Oncology Stock Down 3.6 %

Shares of Ikena Oncology stock opened at $5.97 on Friday. Ikena Oncology has a twelve month low of $1.94 and a twelve month high of $7.64. The company’s 50 day moving average is $5.16 and its 200 day moving average is $3.92. The company has a market cap of $216.53 million, a price-to-earnings ratio of -3.26 and a beta of 0.85.

Ikena Oncology (NASDAQ:IKNA – Get Rating) last posted its earnings results on Tuesday, March 14th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $0.14. The company had revenue of $5.45 million for the quarter, compared to the consensus estimate of $3.26 million.

Institutional Investors Weigh In On Ikena Oncology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Millennium Management LLC bought a new stake in Ikena Oncology during the fourth quarter valued at approximately $27,000. Virtu Financial LLC bought a new stake in shares of Ikena Oncology during the 2nd quarter valued at $69,000. Dimensional Fund Advisors LP lifted its position in Ikena Oncology by 14.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 28,682 shares of the company’s stock valued at $77,000 after purchasing an additional 3,537 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of Ikena Oncology by 163.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,720 shares of the company’s stock valued at $92,000 after acquiring an additional 12,854 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Ikena Oncology by 25.4% in the first quarter. JPMorgan Chase & Co. now owns 17,172 shares of the company’s stock worth $104,000 after purchasing an additional 3,482 shares in the last quarter. Hedge funds and other institutional investors own 72.40% of the company’s stock.

About Ikena Oncology

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Ikena Oncology, Inc, a targeted oncology company, focuses on developing medicines tailored to biomarker-defined patient groups for specific unmet needs. 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.