Short Interest in MiNK Therapeutics, Inc. (NASDAQ:INKT) Rises By 22.5%

MiNK Therapeutics, Inc. (NASDAQ:INKT) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 62,000 shares, a growth of 22.5% from the August 31st total of 50,600 shares. Based on an average daily volume of 52,600 shares, the short-interest ratio is currently 1.2 days. Approximately 0.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of MiNK Therapeutics in a research note on Tuesday, August 13th.

MiNK Therapeutics Price Performance

Shares of INKT traded down $0.00 on Monday, reaching $0.75. 15,729 shares of the stock traded hands, compared to its average volume of 97,729. The stock’s 50-day moving average price is $0.82 and its 200-day moving average price is $0.91. The firm has a market cap of $26.05 million, a price-to-earnings ratio of -1.24 and a beta of 0.06. MiNK Therapeutics has a 12 month low of $0.71 and a 12 month high of $1.90.

MiNK Therapeutics (NASDAQ:INKT) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. As a group, equities research analysts forecast that MiNK Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MiNK Therapeutics

An institutional investor recently raised its position in MiNK Therapeutics stock. Renaissance Technologies LLC increased its stake in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,841 shares of the company’s stock after purchasing an additional 22,613 shares during the quarter. Renaissance Technologies LLC owned about 0.37% of MiNK Therapeutics worth $121,000 at the end of the most recent quarter. 2.87% of the stock is owned by institutional investors and hedge funds.

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.