Whitehawk Therapeutics (NASDAQ:WHWK) Stock Price Down 4.9% – Here’s What Happened

Whitehawk Therapeutics, Inc. (NASDAQ:WHWK) traded down 4.9% during mid-day trading on Monday . The stock traded as low as $4.44 and last traded at $4.49. 290,993 shares were traded during mid-day trading, a decline of 41% from the average session volume of 493,606 shares. The stock had previously closed at $4.72.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WHWK shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Whitehawk Therapeutics in a research note on Friday, March 27th. Citizens Jmp started coverage on shares of Whitehawk Therapeutics in a research note on Thursday, April 16th. They set a “market outperform” rating and a $8.00 target price on the stock. Citigroup started coverage on shares of Whitehawk Therapeutics in a research note on Thursday, April 16th. They set an “outperform” rating on the stock. Oppenheimer reissued an “outperform” rating and set a $7.00 target price on shares of Whitehawk Therapeutics in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Whitehawk Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.33.

Whitehawk Therapeutics Stock Down 4.9%

The stock’s 50-day moving average price is $4.01 and its 200 day moving average price is $3.22. The firm has a market cap of $222.03 million, a price-to-earnings ratio of -2.67 and a beta of 0.77.

Whitehawk Therapeutics (NASDAQ:WHWK) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.04. On average, research analysts predict that Whitehawk Therapeutics, Inc. will post -1.44 EPS for the current year.

Insider Transactions at Whitehawk Therapeutics

In other news, insider Bryan Ball sold 92,460 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $3.64, for a total transaction of $336,554.40. Following the sale, the insider directly owned 397,106 shares of the company’s stock, valued at $1,445,465.84. This represents a 18.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO David James Lennon sold 14,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $3.38, for a total transaction of $49,010.00. Following the completion of the transaction, the chief executive officer directly owned 518,622 shares in the company, valued at approximately $1,752,942.36. The trade was a 2.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 695,830 shares of company stock valued at $2,553,026. Corporate insiders own 49.90% of the company’s stock.

Institutional Investors Weigh In On Whitehawk Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Orbimed Advisors LLC bought a new stake in Whitehawk Therapeutics during the 3rd quarter worth about $7,915,000. Suvretta Capital Management LLC bought a new stake in Whitehawk Therapeutics during the 3rd quarter worth about $7,030,000. Acuta Capital Partners LLC bought a new stake in Whitehawk Therapeutics during the 3rd quarter worth about $6,480,000. Avoro Capital Advisors LLC bought a new stake in Whitehawk Therapeutics during the 3rd quarter worth about $5,414,000. Finally, KVP Capital Advisors LP bought a new stake in Whitehawk Therapeutics during the 4th quarter worth about $5,242,000. 52.08% of the stock is owned by institutional investors.

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.