MiNK Therapeutics (NASDAQ:INKT) Lowered to "Strong Sell" Rating by Zacks Research

Key Points

• MiNK Therapeutics was downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, reflecting a negative outlook from analysts.
• Despite receiving mixed ratings from other analysts, the average consensus rating is "Moderate Buy" with a price target of $37.50.
• The company's stock recently reported a significant earnings miss, posting ($1.06) EPS compared to the expected ($0.55), indicating financial struggles.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

INKT has been the topic of a number of other reports. William Blair cut shares of MiNK Therapeutics from an "outperform" rating to a "market perform" rating in a report on Friday, July 11th. HC Wainwright raised shares of MiNK Therapeutics from a "neutral" rating to a "buy" rating and set a $35.00 price objective for the company in a research report on Friday. Finally, B. Riley raised shares of MiNK Therapeutics to a "strong-buy" rating in a research report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.50.

MiNK Therapeutics Stock Performance

Shares of INKT stock opened at $14.8090 on Monday. The firm's 50-day moving average is $14.21 and its 200-day moving average is $10.32. The stock has a market cap of $59.09 million, a price-to-earnings ratio of -5.08 and a beta of 0.33. MiNK Therapeutics has a 52-week low of $4.56 and a 52-week high of $76.00.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) last issued 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). Sell-side analysts predict 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.

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