HC Wainwright Downgrades Inhibikase Therapeutics (NYSE:IKT) to Neutral

Inhibikase Therapeutics (NYSE:IKT) was downgraded by HC Wainwright from a “buy” rating to a “neutral” rating in a report issued on Wednesday, MarketBeat.com reports.

Separately, Jefferies Financial Group began coverage on Inhibikase Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $8.00 price objective on the stock.

Inhibikase Therapeutics Price Performance

NYSE IKT opened at $2.23 on Wednesday. The business has a fifty day moving average price of $2.90 and a two-hundred day moving average price of $2.17. The stock has a market capitalization of $154.67 million, a PE ratio of -0.84 and a beta of 1.06. Inhibikase Therapeutics has a fifty-two week low of $1.12 and a fifty-two week high of $4.20.

Hedge Funds Weigh In On Inhibikase Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC acquired a new position in shares of Inhibikase Therapeutics during the fourth quarter worth $273,000. Blair William & Co. IL grew its position in Inhibikase Therapeutics by 7.0% during the 4th quarter. Blair William & Co. IL now owns 134,953 shares of the company’s stock worth $439,000 after acquiring an additional 8,833 shares during the last quarter. Geode Capital Management LLC increased its holdings in Inhibikase Therapeutics by 544.9% in the 4th quarter. Geode Capital Management LLC now owns 322,878 shares of the company’s stock worth $1,049,000 after purchasing an additional 272,813 shares in the last quarter. Finally, ADAR1 Capital Management LLC bought a new position in Inhibikase Therapeutics in the fourth quarter valued at about $16,585,000. Institutional investors own 3.81% of the company’s stock.

Inhibikase Therapeutics Company Profile

Inhibikase Therapeutics, Inc, a clinical-stage pharmaceutical company, develops therapeutics for Parkinson’s disease and related disorders. Its lead product candidate is IkT-148009, a non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson’s disease and gastrointestinal tract.