Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) Sees Large Increase in Short Interest

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 2,833,866 shares, an increase of 139.9% from the June 15th total of 1,181,288 shares. Based on an average daily trading volume, of 824,119 shares, the days-to-cover ratio is currently 3.4 days. Currently, 11.4% of the company’s stock are short sold.

Insiders Place Their Bets

In related news, CFO Scott M. Giacobello sold 141,600 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $4.13, for a total transaction of $584,808.00. Following the transaction, the chief financial officer directly owned 295,224 shares of the company’s stock, valued at approximately $1,219,275.12. This represents a 32.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 49.90% of the company’s stock.

Institutional Investors Weigh In On Whitehawk Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of WHWK. Seven Fleet Capital Management LP bought a new position in Whitehawk Therapeutics during the 1st quarter valued at $187,000. Bank of America Corp DE grew its stake in shares of Whitehawk Therapeutics by 12,761.6% in the 1st quarter. Bank of America Corp DE now owns 52,861 shares of the company’s stock worth $182,000 after acquiring an additional 52,450 shares in the last quarter. ADAR1 Capital Management LLC grew its stake in shares of Whitehawk Therapeutics by 65.6% in the 1st quarter. ADAR1 Capital Management LLC now owns 128,503 shares of the company’s stock worth $443,000 after acquiring an additional 50,910 shares in the last quarter. Eversept Partners LP raised its holdings in shares of Whitehawk Therapeutics by 17.9% in the first quarter. Eversept Partners LP now owns 306,800 shares of the company’s stock valued at $1,058,000 after purchasing an additional 46,541 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Whitehawk Therapeutics in the first quarter valued at about $40,000. 52.08% of the stock is owned by hedge funds and other institutional investors.

Whitehawk Therapeutics Stock Performance

Shares of WHWK opened at $3.84 on Tuesday. The stock has a 50 day moving average price of $4.28 and a two-hundred day moving average price of $3.62. The firm has a market capitalization of $189.89 million, a P/E ratio of -2.29 and a beta of 0.77. Whitehawk Therapeutics has a 52 week low of $1.57 and a 52 week high of $5.49.

Whitehawk Therapeutics (NASDAQ:WHWK) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.04. On average, equities analysts forecast that Whitehawk Therapeutics will post -1.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WHWK shares. Leerink Partners began coverage on Whitehawk Therapeutics in a report on Monday. They set an “outperform” rating and a $9.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $7.00 target price on shares of Whitehawk Therapeutics in a report on Friday, May 8th. Wall Street Zen downgraded shares of Whitehawk Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Citigroup began coverage on shares of Whitehawk Therapeutics in a research note on Thursday, April 16th. They set an “outperform” rating for the company. Finally, Citizens Jmp began coverage on shares of Whitehawk Therapeutics in a report on Thursday, April 16th. They set a “market outperform” rating and a $8.00 price objective on the stock. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.20.

About Whitehawk Therapeutics

Aadi Bioscience, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug candidate, FYARRO is a form of sirolimus bound to albumin. Aadi is evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway. The company was incorporated in 2007 and is headquartered in Pacific Palisades, California.