Inhibikase Therapeutics, Inc. (NASDAQ:IKT) Short Interest Up 52.2% in February

Inhibikase Therapeutics, Inc. (NASDAQ:IKT) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 16,041,114 shares, an increase of 52.2% from the February 12th total of 10,541,776 shares. Currently, 23.0% of the shares of the stock are sold short. Based on an average daily volume of 3,478,233 shares, the short-interest ratio is presently 4.6 days. Based on an average daily volume of 3,478,233 shares, the short-interest ratio is presently 4.6 days. Currently, 23.0% of the shares of the stock are sold short.

Inhibikase Therapeutics Price Performance

IKT stock opened at $2.00 on Friday. The company has a market capitalization of $150.36 million, a P/E ratio of -5.13 and a beta of 0.76. The company’s fifty day simple moving average is $1.78. Inhibikase Therapeutics has a 52-week low of $1.33 and a 52-week high of $2.58.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its holdings in Inhibikase Therapeutics by 277.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 166,025 shares of the company’s stock worth $364,000 after buying an additional 122,073 shares during the period. Jane Street Group LLC acquired a new stake in shares of Inhibikase Therapeutics in the first quarter valued at about $255,000. Geode Capital Management LLC raised its position in shares of Inhibikase Therapeutics by 228.5% during the second quarter. Geode Capital Management LLC now owns 1,066,700 shares of the company’s stock worth $2,080,000 after acquiring an additional 741,940 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Inhibikase Therapeutics during the second quarter worth about $34,000. Finally, Intech Investment Management LLC acquired a new position in shares of Inhibikase Therapeutics in the second quarter worth approximately $61,000. 3.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IKT has been the subject of several research analyst reports. Jefferies Financial Group reiterated a “buy” rating on shares of Inhibikase Therapeutics in a report on Monday, December 29th. Lifesci Capital upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, February 23rd. Bank of America assumed coverage on Inhibikase Therapeutics in a report on Wednesday, January 21st. They issued a “buy” rating and a $6.00 target price for the company. LADENBURG THALM/SH SH started coverage on Inhibikase Therapeutics in a research report on Wednesday, March 4th. They issued a “buy” rating and a $4.00 target price for the company. Finally, Zacks Research raised Inhibikase Therapeutics to a “hold” rating in a research note on Tuesday, December 2nd. Four investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $5.50.

About Inhibikase Therapeutics

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.