Seven Fleet Capital Management LP Purchases Shares of 533,648 Inhibikase Therapeutics, Inc. $IKT

Seven Fleet Capital Management LP purchased a new stake in shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 533,648 shares of the company’s stock, valued at approximately $1,094,000. Inhibikase Therapeutics makes up 0.8% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 21st largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sands Capital Alternatives LLC boosted its stake in Inhibikase Therapeutics by 18.9% during the fourth quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after buying an additional 2,068,965 shares during the period. ADAR1 Capital Management LLC increased its stake in Inhibikase Therapeutics by 53.7% in the 4th quarter. ADAR1 Capital Management LLC now owns 8,063,949 shares of the company’s stock worth $16,531,000 after acquiring an additional 2,816,346 shares during the last quarter. Siren L.L.C. bought a new position in Inhibikase Therapeutics in the 4th quarter worth about $11,992,000. Commodore Capital LP raised its holdings in shares of Inhibikase Therapeutics by 1.0% in the 2nd quarter. Commodore Capital LP now owns 5,397,488 shares of the company’s stock valued at $10,525,000 after acquiring an additional 53,056 shares in the last quarter. Finally, Squadron Capital Management LLC purchased a new stake in Inhibikase Therapeutics in the fourth quarter valued at approximately $8,661,000. Hedge funds and other institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Trading Up 8.9%

Shares of NASDAQ:IKT opened at $1.83 on Friday. The stock has a market capitalization of $241.61 million, a P/E ratio of -4.26 and a beta of 0.92. The stock’s 50-day moving average price is $1.77 and its 200-day moving average price is $1.75. Inhibikase Therapeutics, Inc. has a 12-month low of $1.33 and a 12-month high of $2.26.

Inhibikase Therapeutics (NASDAQ:IKT) last released its earnings results on Tuesday, May 12th. The company reported ($0.10) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.10). As a group, research analysts predict that Inhibikase Therapeutics, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Oppenheimer started coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Tuesday, April 21st. Lifesci Capital raised shares of Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, LADENBURG THALM/SH SH began coverage on shares of Inhibikase Therapeutics in a report on Wednesday, March 4th. They issued a “buy” rating and a $4.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $5.40.

Inhibikase Therapeutics Profile

Inhibikase Therapeutics, Inc, a clinical stage pharmaceutical company, develops therapeutics for Parkinson’s Disease (PD) and related disorders that arise inside and outside of the brain. The company’s product candidates include IkT-148009, a small molecule Abelson tyrosine kinase inhibitor for use in the treatment of PD, as well as gastrointestinal complications that arise as early symptoms of PD, such as swallowing, dysphagia, neurogenic constipation, and multiple system atrophy; and IkT-001Pro, a prodrug of the anti-cancer agent Imatinib that is in preclinical development to minimize gastrointestinal side effects and for the treatment of blood and stomach cancers.