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

Key Points

• MiNK Therapeutics (NASDAQ:INKT) experienced a significant 1,845.0% increase in short interest, rising from 12,900 shares to 250,900 shares as of July 15th, with 25.3% of its shares currently sold short.
• Analyst ratings have varied for INKT, with William Blair downgrading the stock to "market perform" while B. Riley upgraded it to "strong-buy," indicating mixed sentiment among analysts.
• The company's stock currently trades around $14.97, down from a 52-week high of $76.00, and it reported a loss of ($0.70) EPS for the last quarter, missing expectations.

MiNK Therapeutics, Inc. (NASDAQ:INKT - Get Free Report) was the recipient of a large increase in short interest in July. As of July 15th, there was short interest totaling 250,900 shares, anincreaseof1,845.0% from the June 30th total of 12,900 shares. Currently,25.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 912,500 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 912,500 shares, the days-to-cover ratio is currently 0.3 days. Currently,25.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INKT. William Blair cut shares of MiNK Therapeutics from an "outperform" rating to a "market perform" rating in a research report on Friday, July 11th. B. Riley raised shares of MiNK Therapeutics to a "strong-buy" rating in a report on Friday, July 18th. Finally, HC Wainwright lowered shares of MiNK Therapeutics from a "buy" rating to a "neutral" rating and set a $35.00 target price on the stock. in a report on Tuesday, July 15th.

MiNK Therapeutics Stock Performance

Shares of INKT stock traded down $0.19 on Friday, hitting $14.97. 67,931 shares of the company's stock traded hands, compared to its average volume of 430,744. MiNK Therapeutics has a one year low of $4.56 and a one year high of $76.00. The company's fifty day simple moving average is $12.40 and its 200 day simple moving average is $9.80. The stock has a market capitalization of $59.73 million, a price-to-earnings ratio of -5.94 and a beta of 0.19.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) last released its 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, sell-side analysts anticipate that MiNK Therapeutics will post -2.75 earnings per share for the current fiscal year.

About MiNK Therapeutics

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.

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