B. Riley Financial Initiates Coverage on Whitehawk Therapeutics (NASDAQ:WHWK)

B. Riley Financial initiated coverage on shares of Whitehawk Therapeutics (NASDAQ:WHWK) in a research report issued on Thursday. The brokerage set a “buy” rating and a $10.00 price target on the stock. B. Riley Financial’s price target points to a potential upside of 127.79% from the stock’s current price.

WHWK has been the subject of several other research reports. Citigroup assumed coverage on shares of Whitehawk Therapeutics in a research note on Thursday, April 16th. They set an “outperform” rating for the company. Oppenheimer restated an “outperform” rating and set a $7.00 target price on shares of Whitehawk Therapeutics in a research note on Friday, May 8th. Wall Street Zen lowered Whitehawk Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Citizens Jmp initiated coverage on shares of Whitehawk Therapeutics in a research note on Thursday, April 16th. They issued a “market outperform” rating and a $8.00 target price for the company. Finally, Weiss Ratings lowered shares of Whitehawk Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, June 5th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Whitehawk Therapeutics Trading Up 0.5%

WHWK opened at $4.39 on Thursday. The firm has a market cap of $217.09 million, a price-to-earnings ratio of -2.61 and a beta of 0.77. Whitehawk Therapeutics has a 12 month low of $1.57 and a 12 month high of $5.49. The stock has a fifty day moving average price of $4.27 and a 200-day moving average price of $3.46.

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, beating analysts’ consensus estimates of ($0.36) by $0.04. On average, equities research analysts forecast that Whitehawk Therapeutics will post -1.44 EPS for the current year.

Insider Buying and Selling

In other Whitehawk Therapeutics news, CFO Scott M. Giacobello sold 141,600 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $4.13, for a total transaction of $584,808.00. Following the completion of the transaction, the chief financial officer directly owned 295,224 shares of the company’s stock, valued at approximately $1,219,275.12. This trade represents a 32.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Bryan Ball sold 92,460 shares of the company’s stock in a transaction 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 completion of the sale, the insider directly owned 397,106 shares in the company, valued at $1,445,465.84. This trade represents a 18.89% 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. In the last quarter, insiders have sold 695,830 shares of company stock worth $2,553,026. 49.90% of the stock is owned by company insiders.

Institutional Trading of Whitehawk Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Orbimed Advisors LLC acquired a new position in shares of Whitehawk Therapeutics in the 3rd quarter valued at $7,915,000. Suvretta Capital Management LLC acquired a new stake in Whitehawk Therapeutics during the third quarter valued at $7,030,000. Acuta Capital Partners LLC acquired a new stake in Whitehawk Therapeutics during the third quarter valued at $6,480,000. Avoro Capital Advisors LLC purchased a new position in Whitehawk Therapeutics in the third quarter valued at $5,414,000. Finally, KVP Capital Advisors LP purchased a new stake in shares of Whitehawk Therapeutics during the 4th quarter worth about $5,242,000. 52.08% of the stock is owned by institutional investors and hedge funds.

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.