Inhibikase Therapeutics (NYSE:IKT) Shares Up 4.9% - Still a Buy?

Inhibikase Therapeutics, Inc. (NYSE:IKT - Get Free Report) shares rose 4.9% during mid-day trading on Monday . The stock traded as high as $2.40 and last traded at $2.36. Approximately 175,997 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 220,970 shares. The stock had previously closed at $2.25.

Analysts Set New Price Targets

Separately, HC Wainwright lowered Inhibikase Therapeutics from a "buy" rating to a "neutral" rating in a research note on Wednesday, February 12th.

Inhibikase Therapeutics Price Performance

The firm has a market capitalization of $164.39 million, a PE ratio of -0.89 and a beta of 1.04. The firm has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $2.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new position in Inhibikase Therapeutics in the fourth quarter worth about $48,000. Alpine Global Management LLC purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at about $48,000. Soleus Capital Management L.P. purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at about $20,556,000. Squarepoint Ops LLC purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at about $92,000. Finally, Stonepine Capital Management LLC purchased a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at about $3,680,000. 3.81% of the stock is owned by hedge funds and other institutional investors.

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Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc, a clinical-stage pharmaceutical company, develops therapeutics for Parkinson's disease and related disorders. Its lead product candidate is IkT-148009, a non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson's disease and gastrointestinal tract.