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

Key Points

• MiNK Therapeutics experienced a 32.9% drop in short interest in August, decreasing from 72,400 shares to 48,600 shares.
• The company's latest earnings report for the quarter showed an EPS of ($1.06), missing the consensus estimate by ($0.51).
• Analysts currently rate MiNK Therapeutics as a "Moderate Buy"** with a consensus price target of $37.50, showing mixed opinions on the stock's potential.

MiNK Therapeutics, Inc. (NASDAQ:INKT - Get Free Report) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 48,600 shares, a drop of 32.9% from the August 15th total of 72,400 shares. Currently, 4.4% of the company's shares are sold short. Based on an average daily volume of 969,500 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 969,500 shares, the days-to-cover ratio is currently 0.1 days. Currently, 4.4% of the company's shares are sold short.

Analysts Set New Price Targets

Several research analysts recently weighed in on INKT shares. Zacks Research lowered MiNK Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Monday, August 18th. HC Wainwright upgraded MiNK Therapeutics from a "neutral" rating to a "buy" rating and set a $35.00 price objective on the stock in a report on Friday, August 15th. Wall Street Zen cut MiNK Therapeutics to a "strong sell" rating in a report on Saturday, August 23rd. B. Riley raised shares of MiNK Therapeutics to a "strong-buy" rating in a research report on Friday, July 18th. Finally, William Blair downgraded shares of MiNK Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.50.

MiNK Therapeutics Stock Performance

Shares of INKT traded down $0.26 during midday trading on Friday, hitting $15.09. 44,184 shares of the stock traded hands, compared to its average volume of 40,296. MiNK Therapeutics has a 1-year low of $4.56 and a 1-year high of $76.00. The business's 50 day moving average price is $16.47 and its two-hundred day moving average price is $11.10. The firm has a market capitalization of $68.21 million, a PE ratio of -5.24 and a beta of 0.33.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.51). As a group, equities research analysts forecast that MiNK Therapeutics will post -2.75 EPS 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.