SummitTX Capital L.P. Buys Shares of 1,524,536 Inhibikase Therapeutics, Inc. $IKT

SummitTX Capital L.P. purchased a new position in Inhibikase Therapeutics, Inc. (NASDAQ:IKT) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,524,536 shares of the company’s stock, valued at approximately $2,561,000.

Several other institutional investors have also made changes to their positions in the stock. BNP Paribas Financial Markets grew its position in Inhibikase Therapeutics by 70.3% during the third quarter. BNP Paribas Financial Markets now owns 15,640 shares of the company’s stock valued at $25,000 after purchasing an additional 6,458 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Inhibikase Therapeutics in the 4th quarter worth approximately $26,000. SG Americas Securities LLC acquired a new stake in shares of Inhibikase Therapeutics during the 1st quarter valued at $26,000. Renaissance Technologies LLC acquired a new stake in shares of Inhibikase Therapeutics during the 1st quarter valued at $28,000. Finally, XTX Topco Ltd acquired a new stake in shares of Inhibikase Therapeutics during the 4th quarter valued at $42,000. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research note on Friday, July 17th. LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Oppenheimer assumed coverage on Inhibikase Therapeutics in a research note on Wednesday, June 10th. They issued an “outperform” rating and a $5.00 target price on the stock. Finally, Wall Street Zen raised Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday. Four equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Inhibikase Therapeutics presently has an average rating of “Buy” and an average target price of $5.40.

Inhibikase Therapeutics Stock Performance

IKT opened at $2.31 on Wednesday. The business has a 50 day moving average price of $1.89 and a 200 day moving average price of $1.82. Inhibikase Therapeutics, Inc. has a twelve month low of $1.33 and a twelve month high of $2.53. The firm has a market cap of $304.99 million, a P/E ratio of -5.37 and a beta of 0.94.

Inhibikase Therapeutics (NASDAQ:IKT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.10) EPS for the quarter, meeting the consensus estimate of ($0.10). As a group, analysts anticipate that Inhibikase Therapeutics, Inc. will post -0.42 earnings per share for the current fiscal year.

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.