Ikena Oncology, Inc. (NASDAQ:IKNA) to Post Q1 2023 Earnings of ($0.46) Per Share, William Blair Forecasts

Posted by Defense World Staff on Mar 18th, 2023

Ikena Oncology, Inc. (NASDAQ:IKNA – Get Rating) – Equities research analysts at William Blair issued their Q1 2023 earnings per share (EPS) estimates for Ikena Oncology in a report issued on Tuesday, March 14th. William Blair analyst M. Phipps forecasts that the company will post earnings per share of ($0.46) for the quarter. The consensus estimate for Ikena Oncology’s current full-year earnings is ($2.44) per share. William Blair also issued estimates for Ikena Oncology’s Q2 2023 earnings at ($0.47) EPS, Q3 2023 earnings at ($0.63) EPS, Q4 2023 earnings at ($0.64) EPS, FY2023 earnings at ($2.20) EPS, FY2024 earnings at ($3.05) EPS, FY2025 earnings at ($3.71) EPS and FY2026 earnings at ($4.78) EPS.

A number of other analysts have also commented on the stock. Credit Suisse Group reduced their price target on shares of Ikena Oncology from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of Ikena Oncology in a report on Friday.

Ikena Oncology Stock Performance

Shares of NASDAQ:IKNA opened at $4.11 on Friday. The firm has a market cap of $149.03 million, a price-to-earnings ratio of -2.15 and a beta of 0.80. The business has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $3.40. Ikena Oncology has a fifty-two week low of $1.94 and a fifty-two week high of $8.99.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Millennium Management LLC purchased a new position in shares of Ikena Oncology during the fourth quarter valued at approximately $27,000. Virtu Financial LLC purchased a new position in shares of Ikena Oncology during the second quarter valued at approximately $69,000. JPMorgan Chase & Co. increased its holdings in Ikena Oncology by 25.4% during the first quarter. JPMorgan Chase & Co. now owns 17,172 shares of the company’s stock valued at $104,000 after buying an additional 3,482 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in Ikena Oncology by 163.4% during the second quarter. Cubist Systematic Strategies LLC now owns 20,720 shares of the company’s stock valued at $92,000 after buying an additional 12,854 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Ikena Oncology by 148.2% during the third quarter. Dimensional Fund Advisors LP now owns 25,145 shares of the company’s stock valued at $90,000 after buying an additional 15,013 shares during the last quarter. 72.40% of the stock is owned by hedge funds and other institutional investors.

Ikena Oncology Company Profile

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Ikena Oncology, Inc, a targeted oncology company, focuses on developing medicines tailored to biomarker-defined patient groups for specific unmet needs. Its lead targeted oncology product candidate is IK-930, an oral small molecule inhibitor of the transcriptional enhanced associate domain, transcription factor in the Hippo signaling pathway.