2,008,338 Shares in Ikena Oncology, Inc. (NASDAQ:IKNA) Purchased by Gilead Sciences Inc.

Gilead Sciences Inc. acquired a new position in shares of Ikena Oncology, Inc. (NASDAQ:IKNA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,008,338 shares of the company’s stock, valued at approximately $3,294,000. Ikena Oncology comprises approximately 0.2% of Gilead Sciences Inc.’s holdings, making the stock its 12th largest holding. Gilead Sciences Inc. owned about 4.16% of Ikena Oncology as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BML Capital Management LLC grew its position in shares of Ikena Oncology by 395.8% during the 4th quarter. BML Capital Management LLC now owns 3,585,866 shares of the company’s stock valued at $5,881,000 after acquiring an additional 2,862,578 shares during the period. Peapod Lane Capital LLC purchased a new position in Ikena Oncology in the fourth quarter valued at approximately $833,000. Geode Capital Management LLC grew its holdings in Ikena Oncology by 21.0% during the fourth quarter. Geode Capital Management LLC now owns 327,962 shares of the company’s stock valued at $538,000 after purchasing an additional 56,936 shares during the period. JPMorgan Chase & Co. increased its position in Ikena Oncology by 18,244.1% in the fourth quarter. JPMorgan Chase & Co. now owns 155,741 shares of the company’s stock worth $255,000 after buying an additional 154,892 shares during the last quarter. Finally, FMR LLC lifted its position in shares of Ikena Oncology by 94.1% during the 3rd quarter. FMR LLC now owns 38,374 shares of the company’s stock valued at $66,000 after buying an additional 18,607 shares during the last quarter. Institutional investors own 75.00% of the company’s stock.

Ikena Oncology Stock Performance

Ikena Oncology stock opened at $1.11 on Friday. The firm has a 50 day simple moving average of $1.31 and a 200 day simple moving average of $1.52. Ikena Oncology, Inc. has a 1-year low of $0.97 and a 1-year high of $1.94. The firm has a market capitalization of $53.57 million, a price-to-earnings ratio of -0.90 and a beta of 0.48.

Ikena Oncology (NASDAQ:IKNA) last released its quarterly earnings data on Tuesday, March 11th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.05. On average, equities research analysts forecast that Ikena Oncology, Inc. will post -0.91 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wedbush restated a “neutral” rating and issued a $2.00 price objective on shares of Ikena Oncology in a research note on Monday, December 23rd.

About Ikena Oncology

Ikena Oncology, Inc operates as an oncology company that develops differentiated therapies for patients in need that target nodes of cancer growth, spread, and therapeutic resistance in the United States. Its lead program is IK-930, an internally discovered, oral, TEAD1-selective, small molecule inhibitor of the Hippo pathway.