5 Cheap New Stocks To Buy

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In this article, we will take a look at the 5 cheap new stocks to buy. To see more such companies, go directly to 13 Cheap New Stocks To Buy.

5. Ikena Oncology, Inc. (NASDAQ:IKNA)

Price: $3.25

Price Decline Over the Past Six Months: 18%

Number of Hedge Fund Holders: 8

Ikena Oncology, Inc. (NASDAQ:IKNA) is a Boston, Massachusetts-based company with a strong pipeline. Ikena Oncology, Inc. (NASDAQ:IKNA) went public in 2021. In November last year, Ikena Oncology, Inc. (NASDAQ:IKNA) posted strong Q3 results. Ikena Oncology, Inc. (NASDAQ:IKNA) said its GAAP EPS in the quarter came in at -$0.48, beating analyst estimates by $0.01. Revenue in the quarter jumped a whopping 70% to reach $6.4 million, surpassing estimates by $2.08 million.

As of the end of the third quarter, Ikena Oncology, Inc. (NASDAQ:IKNA) had $174.4 million in cash, cash equivalents, and marketable securities.

As of the end of the third quarter, 8 funds in Insider Monkey’s database had stakes in the company.

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