Longbow Finance SA Cuts Position in MiNK Therapeutics, Inc. (NASDAQ:INKT)

Key Points

• Longbow Finance SA reduced its holdings in MiNK Therapeutics by 90.0%, now owning only 16,667 shares after selling 149,999 shares in the first quarter.
• MiNK Therapeutics stock has a market cap of $75.81 million and recently reported a quarterly loss per share of ($0.70), missing estimates.
• Brokerage ratings have fluctuated, with B. Riley upgrading MiNK Therapeutics to a "strong-buy" while HC Wainwright downgraded it to "neutral" with a target price of $35.00.

Longbow Finance SA cut its stake in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT - Free Report) by 90.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,667 shares of the company's stock after selling 149,999 shares during the quarter. Longbow Finance SA owned approximately 0.42% of MiNK Therapeutics worth $144,000 at the end of the most recent reporting period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INKT. B. Riley raised MiNK Therapeutics to a "strong-buy" rating in a research report on Friday, July 18th. HC Wainwright downgraded MiNK Therapeutics from a "buy" rating to a "neutral" rating and set a $35.00 price target for the company. in a report on Tuesday, July 15th. Finally, William Blair downgraded MiNK Therapeutics from an "outperform" rating to a "market perform" rating in a report on Friday, July 11th.

MiNK Therapeutics Price Performance

Shares of INKT stock traded down $1.97 during trading hours on Tuesday, hitting $16.75. The stock had a trading volume of 124,322 shares, compared to its average volume of 436,935. The firm has a market capitalization of $66.81 million, a PE ratio of -6.64 and a beta of 0.19. MiNK Therapeutics, Inc. has a twelve month low of $4.56 and a twelve month high of $76.00. The stock's 50 day moving average is $11.88 and its 200 day moving average is $9.65.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported ($0.70) EPS for the quarter, missing the consensus estimate of ($0.61) by ($0.09). As a group, equities analysts predict that MiNK Therapeutics, Inc. will post -2.75 earnings per share for the current year.

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.