Ikena Oncology, Inc. (NASDAQ:IKNA) Short Interest Up 11.2% in April

Ikena Oncology, Inc. (NASDAQ:IKNA) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,390,000 shares, a growth of 11.2% from the March 31st total of 1,250,000 shares. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 424,100 shares, the days-to-cover ratio is presently 3.3 days.

Ikena Oncology Stock Performance

Shares of IKNA opened at $1.32 on Wednesday. Ikena Oncology has a 1 year low of $1.02 and a 1 year high of $7.64. The business has a 50-day moving average of $1.40 and a 200-day moving average of $1.85.

Ikena Oncology (NASDAQ:IKNA) last issued its earnings results on Tuesday, March 12th. The company reported ($0.41) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.41). The business had revenue of $0.66 million during the quarter, compared to the consensus estimate of $2.39 million. Sell-side analysts predict that Ikena Oncology will post -1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Ikena Oncology in a research note on Tuesday, March 19th. Wedbush reissued an “outperform” rating and set a $8.00 price target on shares of Ikena Oncology in a research note on Tuesday, March 12th.

Institutional Investors Weigh In On Ikena Oncology

A number of hedge funds have recently added to or reduced their stakes in IKNA. BVF Inc. IL increased its holdings in Ikena Oncology by 50.5% in the fourth quarter. BVF Inc. IL now owns 4,769,164 shares of the company’s stock worth $9,395,000 after purchasing an additional 1,600,000 shares in the last quarter. Vestal Point Capital LP acquired a new stake in Ikena Oncology in the fourth quarter valued at approximately $636,000. CHI Advisors LLC grew its stake in Ikena Oncology by 2.8% in the third quarter. CHI Advisors LLC now owns 2,180,934 shares of the company’s stock valued at $9,443,000 after acquiring an additional 58,894 shares during the period. OUP Management Co. LLC acquired a new stake in Ikena Oncology in the third quarter valued at approximately $116,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in Ikena Oncology by 5.2% in the third quarter. Adage Capital Partners GP L.L.C. now owns 407,900 shares of the company’s stock valued at $1,766,000 after acquiring an additional 20,000 shares during the period. 75.00% of the stock is currently owned by institutional investors.

About Ikena Oncology

Ikena Oncology, Inc operates as an oncology company that develops differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the United States. Its lead program is IK-930, an internally discovered, oral, TEAD1-selective, small molecule inhibitor of the Hippo pathway.