Why Ikena Oncology, Evelo Biosciences And 180 Life Sciences Are Rallying Today

Ikena Oncology, Inc. IKNA, 180 Life Sciences Corp. ATNF and Evelo Biosciences, Inc. EVLO are among the major biopharma movers of Monday.

Ikena Oncology Gains On Fund Buying: Ikena Oncology, which listed its shares on the Nasdaq on March 26 following an initial public offering of 7.8125 million shares at $16 apiece, disclosed in a 13G filing, Citadel Advisors beneficially owned about 2,053,068 shares or a 6.6% stake in the company.

Ikena is a targeted oncology company developing therapies targeting key signaling pathways that drive the formation and spread of cancer.

Ikena Oncology shares were rallying 18.38% to $19.

Related Link: The Week Ahead In Biotech: Avenue Therapeutics FDA Decision and Conference Presentations In The Spotlight

Evelo Rises On Positive Analyst Action: Evelo, a clinical-stage biotechnology company developing a new modality of orally delivered medicines, was advancing strongly after a sell-side upgrade of shares. Jefferies analyst Chris Howerton upgraded the shares from Neutral to Buy and hiked the price target from $11 to $18.

Evelo was rallying 23.51% to $12.40.

180 Life Sciences Soars On Insider Buying: 180 Life Sciences, which focuses on therapies for inflammatory diseases, fibrosis, and pain, disclosed in a Form 4 filing Marc Feldmann, a director of its board, bought 20,910 shares at $6.14 apiece.

180 Life Sciences shares were jumping 16.53% to $11.35.

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