Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) Sees Large Increase in Short Interest

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 2,833,866 shares, a growth of 139.9% from the June 15th total of 1,181,288 shares. Based on an average daily volume of 824,119 shares, the days-to-cover ratio is presently 3.4 days. Currently, 11.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Whitehawk Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in WHWK. Orbimed Advisors LLC bought a new stake in shares of Whitehawk Therapeutics in the third quarter valued at approximately $7,915,000. Acuta Capital Partners LLC bought a new stake in Whitehawk Therapeutics in the 3rd quarter valued at $6,480,000. KVP Capital Advisors LP acquired a new stake in Whitehawk Therapeutics in the 4th quarter worth $5,242,000. Yu Fan bought a new position in shares of Whitehawk Therapeutics during the 3rd quarter worth about $3,933,000. Finally, Vanguard Group Inc. bought a new position in shares of Whitehawk Therapeutics during the 3rd quarter worth about $2,552,000. 52.08% of the stock is owned by institutional investors and hedge funds.

Whitehawk Therapeutics Stock Up 1.0%

Shares of Whitehawk Therapeutics stock opened at $3.85 on Thursday. Whitehawk Therapeutics has a 12-month low of $1.57 and a 12-month high of $5.49. The stock has a 50 day moving average price of $4.26 and a two-hundred day moving average price of $3.63. The stock has a market capitalization of $190.38 million, a P/E ratio of -2.29 and a beta of 0.77.

Whitehawk Therapeutics (NASDAQ:WHWK) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.04. Sell-side analysts anticipate that Whitehawk Therapeutics will post -1.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WHWK. Citizens Jmp initiated coverage on Whitehawk Therapeutics in a research note on Thursday, April 16th. They set a “market outperform” rating and a $8.00 price target for the company. Citigroup began coverage on Whitehawk Therapeutics in a report on Thursday, April 16th. They issued an “outperform” rating on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $7.00 price objective on shares of Whitehawk Therapeutics in a research report on Friday, May 8th. Wall Street Zen cut shares of Whitehawk Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Leerink Partners assumed coverage on shares of Whitehawk Therapeutics in a research report on Monday. They issued an “outperform” rating and a $9.00 target price for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Whitehawk Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $8.20.

About Whitehawk Therapeutics

Aadi Bioscience, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing precision therapies for genetically defined cancers with alterations in mTOR pathway genes. Its lead drug candidate, FYARRO is a form of sirolimus bound to albumin. Aadi is evaluating FYARRO in cancers with known mTOR pathway activation, including tumor agnostic indications targeting specific genomic alterations that activate the mTOR pathway. The company was incorporated in 2007 and is headquartered in Pacific Palisades, California.