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

MiNK Therapeutics, Inc. (NASDAQ:INKT) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 51,700 shares, a decline of 20.8% from the October 15th total of 65,300 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 35,500 shares, the short-interest ratio is currently 1.5 days.

MiNK Therapeutics Stock Up 0.5 %

MiNK Therapeutics stock traded up $0.00 during trading hours on Friday, hitting $0.75. The stock had a trading volume of 13,346 shares, compared to its average volume of 89,742. The company has a 50-day moving average of $0.73 and a two-hundred day moving average of $0.85. MiNK Therapeutics has a fifty-two week low of $0.57 and a fifty-two week high of $1.90. The company has a market cap of $29.81 million, a PE ratio of -1.53 and a beta of 0.05.

MiNK Therapeutics (NASDAQ:INKT) last issued its earnings results on Tuesday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. As a group, analysts forecast that MiNK Therapeutics will post -0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INKT. HC Wainwright restated a “buy” rating and set a $9.00 target price on shares of MiNK Therapeutics in a research note on Friday. Robert W. Baird reduced their price objective on MiNK Therapeutics from $8.00 to $4.00 and set an “outperform” rating for the company in a research report on Friday.

Hedge Funds Weigh In On MiNK Therapeutics

An institutional investor recently raised its position in MiNK Therapeutics stock. Renaissance Technologies LLC lifted its stake in MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 127,841 shares of the company’s stock after purchasing an additional 22,613 shares during the period. Renaissance Technologies LLC owned 0.37% of MiNK Therapeutics worth $121,000 at the end of the most recent quarter. 2.87% of the stock is currently 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.