MiNK Therapeutics (NASDAQ:INKT) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded MiNK Therapeutics from “strong buy” to “hold.” The broader analyst consensus is also “hold,” with an average price target of $35.
• MiNK shares opened at $11.00, down 3.2%, with a market capitalization of approximately $54.8 million. The company reported a quarterly loss of $0.62 per share, missing estimates by $0.02.
• MiNK is a clinical-stage biotechnology company developing exosome-based immunotherapies for solid tumors. Institutional ownership remains limited at 2.87%, although DRW Securities recently acquired a 25,677-share position.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on INKT. HC Wainwright restated a "buy" rating and issued a $35.00 price target on shares of MiNK Therapeutics in a research note on Monday, May 18th. Wall Street Zen upgraded MiNK Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised MiNK Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, July 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $35.00.

MiNK Therapeutics Stock Down 3.2%

Shares of NASDAQ:INKT opened at $11.00 on Wednesday. The company has a market cap of $54.78 million, a P/E ratio of -3.87 and a beta of 0.48. MiNK Therapeutics has a 52 week low of $8.48 and a 52 week high of $18.17. The company has a 50-day moving average price of $11.34 and a 200 day moving average price of $11.23.

MiNK Therapeutics (NASDAQ:INKT - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.62) earnings per share for the quarter, missing analysts' consensus estimates of ($0.60) by ($0.02). Analysts expect that MiNK Therapeutics will post -2.75 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in MiNK Therapeutics stock. DRW Securities LLC purchased a new stake in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 25,677 shares of the company's stock, valued at approximately $286,000. DRW Securities LLC owned 0.55% of MiNK Therapeutics at the end of the most recent quarter. 2.87% of the stock is owned by institutional investors and hedge funds.

MiNK Therapeutics Company Profile

MiNK Therapeutics, Inc is a clinical-stage biotechnology company developing exosome-based immunotherapies for the treatment of solid tumors. The company's proprietary platform isolates and engineers naturally occurring extracellular vesicles, or exosomes, to deliver therapeutic payloads—such as mRNA, proteins and modulatory factors—directly into the tumor microenvironment. By leveraging the innate cell‐to‐cell communication properties of exosomes, MiNK aims to reprogram immune cells and overcome immune suppression within solid tumors.

MiNK's preclinical pipeline features multiple lead candidates designed to repolarize tumor‐associated macrophages and boost T cell–mediated tumor clearance.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source