Jacobs Levy Equity Management Inc. Reduces Holdings in Ikena Oncology, Inc. (NASDAQ:IKNA)

Jacobs Levy Equity Management Inc. reduced its stake in Ikena Oncology, Inc. (NASDAQ:IKNA) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 388,748 shares of the company’s stock after selling 35,629 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Ikena Oncology were worth $673,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IKNA. Deuterium Capital Management LLC acquired a new position in Ikena Oncology in the 2nd quarter valued at about $133,000. BBR Partners LLC acquired a new position in shares of Ikena Oncology in the second quarter valued at approximately $33,000. Acadian Asset Management LLC lifted its stake in shares of Ikena Oncology by 15.2% during the second quarter. Acadian Asset Management LLC now owns 325,713 shares of the company’s stock valued at $536,000 after buying an additional 42,931 shares during the period. JBF Capital Inc. acquired a new stake in shares of Ikena Oncology during the second quarter worth $120,000. Finally, Sofinnova Investments Inc. boosted its stake in Ikena Oncology by 230.7% in the 2nd quarter. Sofinnova Investments Inc. now owns 382,616 shares of the company’s stock worth $631,000 after buying an additional 266,904 shares during the last quarter. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

Ikena Oncology Price Performance

NASDAQ IKNA opened at $1.67 on Tuesday. Ikena Oncology, Inc. has a 1-year low of $1.22 and a 1-year high of $2.32. The firm has a market capitalization of $80.59 million, a P/E ratio of -1.36 and a beta of 0.49. The business’s 50-day simple moving average is $1.71 and its 200-day simple moving average is $1.69.

Ikena Oncology (NASDAQ:IKNA) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. On average, equities research analysts expect that Ikena Oncology, Inc. will post -0.91 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on IKNA shares. HC Wainwright restated a “buy” rating and issued a $4.00 target price on shares of Ikena Oncology in a report on Monday, November 11th. Wedbush restated a “neutral” rating and set a $2.00 price objective on shares of Ikena Oncology in a report on Thursday, November 7th.

Ikena Oncology Company Profile

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.