220,000 Shares in Inhibikase Therapeutics, Inc. $IKT Acquired by Rangeley Capital LLC

Rangeley Capital LLC bought a new position in shares of Inhibikase Therapeutics, Inc. (NASDAQ:IKT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 220,000 shares of the company’s stock, valued at approximately $370,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sands Capital Alternatives LLC increased its stake in shares of Inhibikase Therapeutics by 18.9% in the fourth quarter. Sands Capital Alternatives LLC now owns 13,018,965 shares of the company’s stock valued at $26,689,000 after buying an additional 2,068,965 shares during the period. Spruce Street Capital LP acquired a new position in shares of Inhibikase Therapeutics during the 4th quarter valued at $7,342,000. Seven Fleet Capital Management LP bought a new position in shares of Inhibikase Therapeutics during the 4th quarter worth about $1,094,000. Sanctuary Advisors LLC bought a new position in Inhibikase Therapeutics in the fourth quarter worth approximately $26,000. Finally, JPMorgan Chase & Co. grew its position in Inhibikase Therapeutics by 74.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 49,937 shares of the company’s stock valued at $81,000 after purchasing an additional 21,358 shares during the period. 3.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IKT has been the subject of several recent research reports. Wall Street Zen raised shares of Inhibikase Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Sunday. LADENBURG THALM/SH SH upgraded Inhibikase Therapeutics to a “strong-buy” rating in a research note on Monday, July 13th. Oppenheimer started coverage on Inhibikase Therapeutics in a report on Wednesday, June 10th. They set an “outperform” rating and a $5.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibikase Therapeutics in a research report on Friday, July 17th. Four investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $5.40.

Inhibikase Therapeutics Price Performance

NASDAQ IKT opened at $2.33 on Monday. The firm has a market cap of $307.63 million, a P/E ratio of -5.42 and a beta of 0.94. The company’s 50 day moving average is $1.86 and its 200-day moving average is $1.81. Inhibikase Therapeutics, Inc. has a 12-month low of $1.33 and a 12-month high of $2.53.

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