MiNK Therapeutics, Inc. (NASDAQ:INKT) Sees Large Growth in Short Interest

MiNK Therapeutics, Inc. (NASDAQ:INKTGet Rating) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 191,200 shares, a growth of 15.3% from the August 15th total of 165,800 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily trading volume, of 469,200 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On MiNK Therapeutics

A hedge fund recently bought a new stake in MiNK Therapeutics stock. Sofinnova Investments Inc. purchased a new stake in MiNK Therapeutics, Inc. (NASDAQ:INKTGet Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 345,499 shares of the company’s stock, valued at approximately $1,541,000. Sofinnova Investments Inc. owned 1.03% of MiNK Therapeutics at the end of the most recent reporting period. Institutional investors and hedge funds own 1.07% of the company’s stock.

MiNK Therapeutics Price Performance

NASDAQ:INKT opened at $2.30 on Tuesday. The stock has a market cap of $77.19 million and a P/E ratio of -1.95. The company has a fifty day moving average price of $2.04 and a 200 day moving average price of $2.02. MiNK Therapeutics has a one year low of $1.09 and a one year high of $22.16.

MiNK Therapeutics (NASDAQ:INKTGet Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.06. As a group, equities research analysts anticipate that MiNK Therapeutics will post -0.88 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright started coverage on shares of MiNK Therapeutics in a research note on Wednesday, August 10th. They set a “buy” rating and a $7.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, MiNK Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $17.50.

About MiNK Therapeutics

(Get Rating)

MiNK Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the discovery, development, and commercialization of allogeneic, off-the-shelf, invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases. Its product candidate is AGENT-797, an off-the-shelf, allogeneic for iNKT cell therapy and treatment of various myeloma diseases, which is in Phase 1 clinical trials.

Further Reading

Receive News & Ratings for MiNK Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MiNK Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.