Short Interest in Ikena Oncology, Inc. (NASDAQ:IKNA) Drops By 11.8%

Ikena Oncology, Inc. (NASDAQ:IKNA - Get Free Report) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 114,900 shares, a drop of 11.8% from the January 15th total of 130,200 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 226,200 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Ikena Oncology

Several institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new position in shares of Ikena Oncology during the second quarter worth $36,000. FMR LLC grew its position in Ikena Oncology by 94.1% during the 3rd quarter. FMR LLC now owns 38,374 shares of the company's stock worth $66,000 after purchasing an additional 18,607 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Ikena Oncology during the 4th quarter valued at about $72,000. BNP Paribas Financial Markets acquired a new position in shares of Ikena Oncology in the 4th quarter valued at about $72,000. Finally, Northern Trust Corp boosted its stake in shares of Ikena Oncology by 19.7% in the fourth quarter. Northern Trust Corp now owns 57,565 shares of the company's stock worth $94,000 after buying an additional 9,456 shares during the last quarter. 75.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on IKNA. Wedbush reissued a "neutral" rating and set a $2.00 target price on shares of Ikena Oncology in a research report on Monday, December 23rd. HC Wainwright reissued a "buy" rating and set a $4.00 target price on shares of Ikena Oncology in a research report on Monday, November 11th.

Ikena Oncology Price Performance

NASDAQ:IKNA traded down $0.06 during trading hours on Friday, hitting $1.39. 82,482 shares of the company were exchanged, compared to its average volume of 163,018. The stock has a market capitalization of $67.08 million, a price-to-earnings ratio of -1.13 and a beta of 0.48. Ikena Oncology has a 52-week low of $1.22 and a 52-week high of $1.94. The company's 50 day moving average price is $1.53 and its 200-day moving average price is $1.64.

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.