Ikena Oncology FY2024 EPS Forecast Lifted by HC Wainwright

Ikena Oncology, Inc. (NASDAQ:IKNA - Free Report) - Investment analysts at HC Wainwright upped their FY2024 earnings per share estimates for Ikena Oncology in a note issued to investors on Monday, November 11th. HC Wainwright analyst A. Maldonado now anticipates that the company will post earnings per share of ($0.95) for the year, up from their prior forecast of ($1.07). HC Wainwright currently has a "Buy" rating and a $4.00 target price on the stock. The consensus estimate for Ikena Oncology's current full-year earnings is ($0.95) per share. HC Wainwright also issued estimates for Ikena Oncology's Q4 2024 earnings at ($0.20) EPS, Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.20) EPS, Q4 2025 earnings at ($0.20) EPS, FY2025 earnings at ($0.81) EPS, FY2026 earnings at ($0.95) EPS, FY2027 earnings at ($0.93) EPS and FY2028 earnings at ($0.70) EPS.

Ikena Oncology (NASDAQ:IKNA - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08.

Separately, Wedbush reaffirmed a "neutral" rating and set a $2.00 price target on shares of Ikena Oncology in a report on Thursday, November 7th.

Ikena Oncology Stock Performance

Shares of NASDAQ IKNA traded down $0.03 during mid-day trading on Thursday, hitting $1.71. 31,922 shares of the stock traded hands, compared to its average volume of 244,458. The stock has a fifty day moving average price of $1.71 and a 200-day moving average price of $1.65. The company has a market cap of $82.52 million, a price-to-earnings ratio of -1.41 and a beta of 0.48. Ikena Oncology has a 52 week low of $1.22 and a 52 week high of $2.32.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in IKNA. Blue Owl Capital Holdings LP increased its position in Ikena Oncology by 5.1% during the 2nd quarter. Blue Owl Capital Holdings LP now owns 4,091,118 shares of the company's stock valued at $6,750,000 after buying an additional 200,000 shares in the last quarter. BML Capital Management LLC grew its holdings in Ikena Oncology by 23.6% in the 3rd quarter. BML Capital Management LLC now owns 723,288 shares of the company's stock valued at $1,251,000 after buying an additional 138,174 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in Ikena Oncology by 813.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 513,440 shares of the company's stock valued at $729,000 after purchasing an additional 457,245 shares during the period. Sofinnova Investments Inc. grew its holdings in shares of Ikena Oncology by 230.7% in the second quarter. Sofinnova Investments Inc. now owns 382,616 shares of the company's stock valued at $631,000 after purchasing an additional 266,904 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Ikena Oncology by 15.2% during the 2nd quarter. Acadian Asset Management LLC now owns 325,713 shares of the company's stock worth $536,000 after acquiring an additional 42,931 shares in the last quarter. Hedge funds and other institutional investors own 75.00% of the company's stock.

Ikena Oncology Company Profile

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.