Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) Sees Significant Drop in Short Interest

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 2,981,829 shares, a drop of 40.7% from the August 15th total of 5,032,431 shares. Based on an average daily volume of 238,372 shares, the days-to-cover ratio is currently 12.5 days. Approximately 10.4% of the shares of the company are sold short.

Whitehawk Therapeutics Trading Down 1.2%

Shares of WHWK opened at $4.04 on Thursday. The stock’s 50 day moving average is $4.29 and its two-hundred day moving average is $4.12. Whitehawk Therapeutics has a twelve month low of $1.82 and a twelve month high of $5.49. The firm has a market capitalization of $230.32 million, a PE ratio of -3.61 and a beta of 0.81.

Whitehawk Therapeutics (NASDAQ:WHWK) last issued its earnings results on Thursday, August 6th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.10. On average, sell-side analysts predict that Whitehawk Therapeutics will post -1.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WHWK. B. Riley Financial started coverage on Whitehawk Therapeutics in a report on Thursday, June 25th. They issued a “buy” rating and a $10.00 target price on the stock. Leerink Partners assumed coverage on shares of Whitehawk Therapeutics in a research report on Monday, July 13th. They issued an “outperform” rating and a $9.00 price objective on the stock. Wall Street Zen raised shares of Whitehawk Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Whitehawk Therapeutics in a research report on Wednesday, September 2nd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WHWK. Montanova Capital LLC boosted its position in shares of Whitehawk Therapeutics by 16.2% during the 2nd quarter. Montanova Capital LLC now owns 4,300,000 shares of the company’s stock worth $19,694,000 after purchasing an additional 600,000 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Whitehawk Therapeutics in the 2nd quarter valued at about $8,807,000. ADAR1 Capital Management LLC purchased a new position in shares of Whitehawk Therapeutics in the 2nd quarter valued at about $6,144,000. Eversept Partners LP increased its holdings in shares of Whitehawk Therapeutics by 17.9% in the 1st quarter. Eversept Partners LP now owns 306,800 shares of the company’s stock valued at $1,058,000 after purchasing an additional 46,541 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Whitehawk Therapeutics in the second quarter valued at about $378,000. Hedge funds and other institutional investors own 52.08% of the company’s stock.

Whitehawk Therapeutics Company Profile

Whitehawk Therapeutics (NASDAQ: WHWK) is a clinical-stage biopharmaceutical company focused on developing new medicines for cancer. Its research is centered on antibody-drug conjugates, which are designed to use targeted antibodies to deliver cancer-killing agents directly to tumor cells.

The company is advancing a pipeline of oncology therapies intended to address cancers with significant unmet medical needs. Its activities include drug discovery, preclinical research and clinical development, with programs designed to evaluate the safety and potential effectiveness of its targeted therapeutic candidates.

Whitehawk Therapeutics is an early-stage biotechnology company, and its pipeline remains subject to the clinical, regulatory and commercialization risks associated with developing experimental medicines.