Spruce Street Capital LP Buys Shares of 3,581,603 Inhibikase Therapeutics, Inc. $IKT

Spruce Street Capital LP acquired a new position in shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) during the 4th quarter, Holdings Channel.com reports. The fund acquired 3,581,603 shares of the company’s stock, valued at approximately $7,342,000. Inhibikase Therapeutics accounts for approximately 2.4% of Spruce Street Capital LP’s investment portfolio, making the stock its 14th biggest position.

Other institutional investors also recently modified their holdings of the company. Sands Capital Alternatives LLC grew its holdings in shares of Inhibikase Therapeutics by 18.9% during the 4th quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock worth $26,689,000 after purchasing an additional 2,068,965 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Inhibikase Therapeutics during the 4th quarter worth approximately $26,000. JPMorgan Chase & Co. grew its holdings in shares of Inhibikase Therapeutics by 74.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 49,937 shares of the company’s stock worth $81,000 after purchasing an additional 21,358 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in shares of Inhibikase Therapeutics by 79.4% during the 4th quarter. Nantahala Capital Management LLC now owns 3,929,292 shares of the company’s stock worth $8,055,000 after purchasing an additional 1,739,292 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Inhibikase Therapeutics by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,273,339 shares of the company’s stock worth $5,303,000 after purchasing an additional 48,969 shares in the last quarter. Institutional investors and hedge funds own 3.81% of the company’s stock.

Inhibikase Therapeutics Price Performance

Shares of IKT stock opened at $1.67 on Tuesday. The stock’s fifty day simple moving average is $1.77 and its 200 day simple moving average is $1.75. The firm has a market cap of $220.49 million, a price-to-earnings ratio of -3.88 and a beta of 0.93. Inhibikase Therapeutics, Inc. has a one year low of $1.33 and a one year high of $2.26.

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). On average, research analysts anticipate that Inhibikase Therapeutics, Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

IKT has been the topic of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Inhibikase Therapeutics in a report on Tuesday, April 21st. LADENBURG THALM/SH SH initiated coverage on Inhibikase Therapeutics in a report on Wednesday, March 4th. They set a “buy” rating and a $4.00 price objective on the stock. Lifesci Capital raised Inhibikase Therapeutics to a “strong-buy” rating in a report on Monday, February 23rd. Finally, Oppenheimer initiated coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $5.40.

About Inhibikase Therapeutics

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.