Ikena Oncology’s (NASDAQ:IKNA) quiet period is set to expire on Wednesday, May 5th. Ikena Oncology had issued 7,812,500 shares in its public offering on March 26th. The total size of the offering was $125,000,000 based on an initial share price of $16.00. During Ikena Oncology’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several research firms recently weighed in on IKNA. William Blair assumed coverage on Ikena Oncology in a report on Monday, April 26th. They issued an “outperform” rating for the company. Credit Suisse Group assumed coverage on shares of Ikena Oncology in a research note on Monday, April 26th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of Ikena Oncology in a research note on Monday, April 26th. They issued a “buy” rating on the stock.
NASDAQ IKNA opened at $24.62 on Wednesday. Ikena Oncology has a twelve month low of $14.16 and a twelve month high of $37.61.
Ikena Oncology, Inc, a targeted oncology company, focuses on developing novel cancer therapies targeting key signaling pathways that drive the formation and spread of cancer. 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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