Short Interest in MiNK Therapeutics, Inc. (NASDAQ:INKT) Expands By 1,845.0%

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) saw 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. Based on an average daily trading volume, of 912,500 shares, the days-to-cover ratio is presently 0.3 days. Currently,25.3% of the company's stock are short sold. Currently,25.3% of the company's stock are short sold. Based on an average daily trading volume, of 912,500 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

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

MiNK Therapeutics Stock Performance

Shares of NASDAQ:INKT traded up $0.23 during midday trading on Tuesday, reaching $13.45. 45,539 shares of the company's stock were exchanged, compared to its average volume of 427,503. The company's 50 day simple moving average is $12.55 and its two-hundred day simple moving average is $9.86. The firm has a market capitalization of $53.67 million, a PE ratio of -5.34 and a beta of 0.33. MiNK Therapeutics has a 12 month low of $4.56 and a 12 month high of $76.00.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.70) EPS for the quarter, missing analysts' consensus estimates of ($0.61) by ($0.09). On average, research analysts anticipate that MiNK Therapeutics will post -2.75 earnings per share for the current 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.