Inhibikase Therapeutics (NASDAQ:IKT) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Inhibikase Therapeutics (NASDAQ:IKT) announced its quarterly earnings results on Tuesday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01, FiscalAI reports.

Inhibikase Therapeutics Price Performance

NASDAQ IKT traded down $0.11 during trading hours on Thursday, reaching $1.52. 17,499 shares of the company’s stock traded hands, compared to its average volume of 1,046,979. Inhibikase Therapeutics has a 52-week low of $1.40 and a 52-week high of $2.61. The firm has a 50-day simple moving average of $1.94 and a 200 day simple moving average of $1.93. The firm has a market cap of $212.51 million, a PE ratio of -3.81 and a beta of 0.94.

Hedge Funds Weigh In On Inhibikase Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in IKT. Kalehua Capital Management LLC boosted its position in shares of Inhibikase Therapeutics by 118.4% in the 1st quarter. Kalehua Capital Management LLC now owns 3,821,890 shares of the company’s stock worth $6,421,000 after purchasing an additional 2,071,890 shares in the last quarter. SummitTX Capital L.P. bought a new position in Inhibikase Therapeutics during the 1st quarter valued at approximately $2,561,000. Ally Bridge Group NY LLC purchased a new position in Inhibikase Therapeutics during the first quarter valued at $2,226,000. Seven Fleet Capital Management LP raised its stake in Inhibikase Therapeutics by 6.5% during the second quarter. Seven Fleet Capital Management LP now owns 346,900 shares of the company’s stock valued at $704,000 after buying an additional 21,300 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Inhibikase Therapeutics during the second quarter valued at $615,000. Institutional investors own 3.81% of the company’s stock.

Analyst Ratings Changes

IKT has been the subject of several research analyst reports. Wall Street Zen lowered shares of Inhibikase Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, October 31st. HC Wainwright reiterated a “buy” rating and set a $8.00 target price on shares of Inhibikase Therapeutics in a report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Thursday, October 15th. Finally, Chardan Capital set a $1.50 target price on Inhibikase Therapeutics and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. Three investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inhibikase Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing treatments for Parkinson’s disease and other neurodegenerative disorders. The company’s research centers on small-molecule inhibitors of Abelson tyrosine kinase, or c-Abl, a protein it is investigating for its role in neurodegeneration. Its pipeline has included IKT-148009, an oral c-Abl inhibitor being developed for Parkinson’s disease. Inhibikase is based in Atlanta, Georgia, and conducts research and development in the pharmaceutical biotechnology sector.