Inhibikase Therapeutics (NASDAQ:IKT) Stock Rating Lowered by Wall Street Zen

Inhibikase Therapeutics (NASDAQ:IKT) was downgraded by research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday, Wall Street Zen reports.

IKT has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $8.00 price objective on shares of Inhibikase Therapeutics in a research note on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Thursday, October 15th. LADENBURG THALM/SH SH raised Inhibikase Therapeutics to a “strong-buy” rating in a research report on Monday, July 13th. Finally, Chardan Capital set a $1.50 price objective on Inhibikase Therapeutics and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $4.75.

Inhibikase Therapeutics Price Performance

Shares of Inhibikase Therapeutics stock opened at $1.55 on Friday. Inhibikase Therapeutics has a 1-year low of $1.33 and a 1-year high of $2.61. The company has a market capitalization of $216.29 million, a P/E ratio of -3.60 and a beta of 0.94. The business’s fifty day moving average price is $2.08 and its two-hundred day moving average price is $1.93.

Inhibikase Therapeutics (NASDAQ:IKT) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.02). On average, research analysts expect that Inhibikase Therapeutics will post -0.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Abel Hall LLC boosted its holdings in shares of Inhibikase Therapeutics by 15.0% during the 3rd quarter. Abel Hall LLC now owns 53,311 shares of the company’s stock valued at $110,000 after acquiring an additional 6,959 shares during the last quarter. Spark Investment Management LLC acquired a new stake in Inhibikase Therapeutics during the 2nd quarter valued at approximately $31,000. Seven Fleet Capital Management LP raised its stake in shares of Inhibikase Therapeutics by 6.5% during the 2nd quarter. Seven Fleet Capital Management LP now owns 346,900 shares of the company’s stock worth $704,000 after buying an additional 21,300 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Inhibikase Therapeutics during the 2nd quarter worth approximately $615,000. Finally, Bank of America Corp DE increased its stake in Inhibikase Therapeutics by 595.3% during the first quarter. Bank of America Corp DE now owns 322,704 shares of the company’s stock worth $542,000 after purchasing an additional 276,293 shares during the period. Hedge funds and other institutional investors own 3.81% of the company’s stock.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing small-molecule therapies for neurodegenerative diseases. The company’s research is based on the role of Abelson tyrosine kinase, or c-Abl, and related disease mechanisms involved in the formation and spread of abnormal proteins associated with neurological disorders.

Its lead investigational product, IKT-148009, is an orally administered, brain-penetrant c-Abl inhibitor being developed as a potential disease-modifying treatment for Parkinson’s disease and related synucleinopathies.