Ikena Oncology (NASDAQ:IKNA) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Ikena Oncology (NASDAQ:IKNAGet Rating) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Ikena Oncology Inc. is focused on developing cancer therapies targeting key signaling pathways which drive the formation and spread of cancer. The company’s product candidates include IK-930, IK-175, IK-412 and IK-007, which are in clinical stage. Ikena Oncology Inc. is based in Boston, United States. “

Several other research firms have also issued reports on IKNA. HC Wainwright raised their target price on shares of Ikena Oncology from $25.00 to $26.00 and gave the stock a buy rating in a report on Wednesday, April 13th. Credit Suisse Group lowered their target price on shares of Ikena Oncology from $27.00 to $24.00 in a report on Thursday, March 17th.

Shares of NASDAQ:IKNA opened at $3.74 on Tuesday. Ikena Oncology has a 52 week low of $2.83 and a 52 week high of $21.18. The stock has a market capitalization of $135.05 million, a P/E ratio of -1.17 and a beta of 1.26. The firm has a fifty day simple moving average of $5.90 and a two-hundred day simple moving average of $9.86.

Ikena Oncology (NASDAQ:IKNAGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.05). On average, equities research analysts forecast that Ikena Oncology will post -1.87 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in Ikena Oncology by 143.9% during the 4th quarter. Legal & General Group Plc now owns 2,273 shares of the company’s stock valued at $29,000 after buying an additional 1,341 shares in the last quarter. Morgan Stanley raised its holdings in shares of Ikena Oncology by 787.6% in the 3rd quarter. Morgan Stanley now owns 3,231 shares of the company’s stock valued at $41,000 after purchasing an additional 2,867 shares in the last quarter. Baystate Wealth Management LLC bought a new stake in shares of Ikena Oncology in the 4th quarter valued at about $38,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Ikena Oncology by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 66,810 shares of the company’s stock valued at $408,000 after purchasing an additional 3,276 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ikena Oncology by 25.4% in the 1st quarter. JPMorgan Chase & Co. now owns 17,172 shares of the company’s stock valued at $104,000 after purchasing an additional 3,482 shares in the last quarter. Institutional investors own 67.33% of the company’s stock.

Ikena Oncology Company Profile (Get Rating)

Ikena Oncology, Inc, a targeted oncology company, focuses on developing medicines tailored to biomarker-defined patient groups for specific unmet needs. Its lead targeted oncology product candidate is IK-930, an oral small molecule inhibitor of the transcriptional enhanced associate domain, transcription factor in the Hippo signaling pathway.

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