Inhibikase Therapeutics (NYSE:IKT) Trading Down 2.5% – Here’s What Happened

Inhibikase Therapeutics, Inc. (NYSE:IKT) dropped 2.5% during mid-day trading on Monday . The stock traded as low as $2.66 and last traded at $2.74. Approximately 84,282 shares were traded during mid-day trading, a decline of 32% from the average daily volume of 124,099 shares. The stock had previously closed at $2.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. HC Wainwright lowered their target price on Inhibikase Therapeutics from $15.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Jefferies Financial Group started coverage on Inhibikase Therapeutics in a research note on Friday, November 8th. They set a “buy” rating and a $8.00 price objective on the stock.

Inhibikase Therapeutics Trading Up 1.4 %

The stock has a market cap of $194.21 million, a P/E ratio of -1.05 and a beta of 1.11. The stock’s 50-day moving average is $2.96 and its 200-day moving average is $2.11.

About Inhibikase Therapeutics

Inhibikase Therapeutics, Inc, a clinical-stage pharmaceutical company, develops therapeutics for Parkinson’s disease and related disorders. Its lead product candidate is IkT-148009, a non-receptor Abelson tyrosine kinase inhibitor, which is in Phase 2a clinical trials to the treatment of Parkinson’s disease and gastrointestinal tract.