Ikena Oncology, Inc. (NASDAQ:IKNA) Short Interest Up 9.7% in November

Ikena Oncology, Inc. (NASDAQ:IKNA) saw a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 90,600 shares, an increase of 9.7% from the November 15th total of 82,600 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 58,300 shares, the short-interest ratio is presently 1.6 days.

Ikena Oncology Price Performance

Shares of NASDAQ:IKNA opened at $1.61 on Tuesday. The business’s 50 day simple moving average is $1.70 and its 200-day simple moving average is $1.70. The firm has a market capitalization of $77.70 million, a price-to-earnings ratio of -1.31 and a beta of 0.49. Ikena Oncology has a 12 month low of $1.22 and a 12 month high of $2.32.

Ikena Oncology (NASDAQ:IKNA) last posted its earnings results on Thursday, November 7th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. On average, equities analysts anticipate that Ikena Oncology will post -0.91 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Ikena Oncology

Several hedge funds have recently added to or reduced their stakes in IKNA. Geode Capital Management LLC grew its position in shares of Ikena Oncology by 5.6% in the third quarter. Geode Capital Management LLC now owns 271,026 shares of the company’s stock valued at $469,000 after purchasing an additional 14,319 shares during the last quarter. NEA Management Company LLC increased its position in Ikena Oncology by 5.3% during the 3rd quarter. NEA Management Company LLC now owns 600,063 shares of the company’s stock worth $1,038,000 after purchasing an additional 30,013 shares in the last quarter. BBR Partners LLC raised its position in shares of Ikena Oncology by 550.0% in the third quarter. BBR Partners LLC now owns 130,000 shares of the company’s stock valued at $225,000 after buying an additional 110,000 shares during the last quarter. FMR LLC lifted its stake in shares of Ikena Oncology by 94.1% during the 3rd quarter. FMR LLC now owns 38,374 shares of the company’s stock worth $66,000 after purchasing an additional 18,607 shares during the period. Finally, BML Capital Management LLC grew its position in shares of Ikena Oncology by 23.6% in the third quarter. BML Capital Management LLC now owns 723,288 shares of the company’s stock valued at $1,251,000 after purchasing an additional 138,174 shares during the period. 75.00% of the stock is currently owned by hedge funds and other institutional investors.

About Ikena Oncology

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.