Shares of Inhibikase Therapeutics, Inc. (NYSE:IKT - Get Free Report) traded up 3.4% during trading on Thursday . The stock traded as high as $3.10 and last traded at $3.06. 101,946 shares were traded during mid-day trading, a decline of 53% from the average session volume of 218,464 shares. The stock had previously closed at $2.96.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on IKT shares. HC Wainwright lowered their target price on shares of Inhibikase Therapeutics from $15.00 to $5.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Jefferies Financial Group initiated coverage on Inhibikase Therapeutics in a research note on Friday, November 8th. They set a "buy" rating and a $8.00 price target on the stock.
Check Out Our Latest Stock Analysis on Inhibikase Therapeutics
Inhibikase Therapeutics Price Performance
The stock has a market cap of $204.94 million, a price-to-earnings ratio of -1.14 and a beta of 1.16. The firm has a 50 day simple moving average of $2.75 and a two-hundred day simple moving average of $1.86.
Insider Activity
In other news, Director Arvind Kush purchased 145,000 shares of the firm's stock in a transaction dated Monday, October 21st. The stock was bought at an average price of $1.37 per share, with a total value of $198,650.00. Following the acquisition, the director now directly owns 145,000 shares of the company's stock, valued at approximately $198,650. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.59% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Inhibikase Therapeutics stock. Armistice Capital LLC acquired a new position in shares of Inhibikase Therapeutics, Inc. (NYSE:IKT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 589,575 shares of the company's stock, valued at approximately $713,000. Armistice Capital LLC owned approximately 8.17% of Inhibikase Therapeutics as of its most recent SEC filing. Institutional investors and hedge funds own 3.81% of the company's stock.
Inhibikase Therapeutics Company Profile
(
Get Free Report)
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.
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