MiNK Therapeutics (NASDAQ:INKT) Issues Earnings Results

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) released 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 Trading Down 12.5%

Shares of INKT stock traded down $2.18 during trading on Thursday, reaching $15.32. 275,541 shares of the company's stock traded hands, compared to its average volume of 305,578. The company has a market capitalization of $61.13 million, a P/E ratio of -6.08 and a beta of 0.33. The firm's 50-day moving average is $13.77 and its 200 day moving average is $10.14. MiNK Therapeutics has a 1 year low of $4.56 and a 1 year high of $76.00.

Wall Street Analysts Forecast Growth

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

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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