MiNK Therapeutics, Inc. (NASDAQ:INKT) Short Interest Up 160.6% in January

MiNK Therapeutics, Inc. (NASDAQ:INKT) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 123,000 shares, an increase of 160.6% from the December 31st total of 47,200 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 96,700 shares, the short-interest ratio is currently 1.3 days.

Wall Street Analyst Weigh In

INKT has been the topic of a number of analyst reports. Robert W. Baird reduced their price target on MiNK Therapeutics from $80.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of MiNK Therapeutics in a report on Friday, November 15th.

MiNK Therapeutics Stock Performance

Shares of NASDAQ:INKT traded up $0.29 during trading on Thursday, reaching $6.89. The stock had a trading volume of 63,226 shares, compared to its average volume of 49,371. MiNK Therapeutics has a 52 week low of $4.56 and a 52 week high of $19.00. The firm’s fifty day moving average is $7.21 and its 200 day moving average is $7.65. The stock has a market cap of $273.05 million, a price-to-earnings ratio of -17.67 and a beta of 0.10.

Institutional Trading of MiNK Therapeutics

A hedge fund recently raised its stake in MiNK Therapeutics stock. Renaissance Technologies LLC grew its position in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,841 shares of the company’s stock after acquiring an additional 22,613 shares during the quarter. Renaissance Technologies LLC owned 0.37% of MiNK Therapeutics worth $121,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 2.87% of the stock is owned by institutional investors.

MiNK Therapeutics Company Profile

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 and solid tumours, which is in Phase 1 clinical trials.