MiNK Therapeutics (NASDAQ:INKT) Posts Earnings Results, Misses Estimates By $0.51 EPS

Key Points

• MiNK Therapeutics reported an earnings loss of ($1.06) per share for the quarter, significantly missing analysts' expectations of ($0.55).
• Following the earnings report, INKT shares fell 12.5%, trading down to $15.32 with a market capitalization of $61.13 million.
• Several brokerages have recently downgraded their ratings for MiNK Therapeutics, with HC Wainwright moving from a "buy" to a "neutral" rating and setting a price target of $35.00.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) announced its earnings results on Thursday. The company reported ($1.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.51), Zacks reports.

MiNK Therapeutics Stock Performance

Shares of INKT traded up $0.3150 during mid-day trading on Tuesday, reaching $14.9350. The company had a trading volume of 75,892 shares, compared to its average volume of 411,473. The company has a market capitalization of $59.59 million, a price-to-earnings ratio of -5.19 and a beta of 0.33. The company's 50 day simple moving average is $14.07 and its 200 day simple moving average is $10.29. MiNK Therapeutics has a 1-year low of $4.56 and a 1-year high of $76.00.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on INKT shares. B. Riley upgraded shares of MiNK Therapeutics to a "strong-buy" rating in a research note on Friday, July 18th. HC Wainwright upgraded shares of MiNK Therapeutics from a "neutral" rating to a "buy" rating and set a $35.00 price target on the stock in a research note on Friday. 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 given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $37.50.

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.