MiNK Therapeutics (NASDAQ:INKT) Stock Price Down 2.1% – Here’s Why

MiNK Therapeutics, Inc. (NASDAQ:INKT) shares were down 2.1% on Wednesday . The stock traded as low as $14.32 and last traded at $14.59. Approximately 31,703 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 41,611 shares. The stock had previously closed at $14.90.

Analyst Ratings Changes

INKT has been the subject of several research reports. Wall Street Zen downgraded shares of MiNK Therapeutics to a “strong sell” rating in a research note on Saturday, August 23rd. Zacks Research cut shares of MiNK Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, August 18th. B. Riley upgraded shares of MiNK Therapeutics to a “strong-buy” rating in a research report on Friday, July 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MiNK Therapeutics in a report on Wednesday. Finally, HC Wainwright upgraded shares of MiNK Therapeutics from a “neutral” rating to a “buy” rating and set a $35.00 price objective on the stock in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $37.50.

MiNK Therapeutics Trading Down 2.1%

The company’s 50 day moving average price is $14.57 and its 200 day moving average price is $11.68. The company has a market cap of $65.99 million, a price-to-earnings ratio of -5.07 and a beta of 0.33.

MiNK Therapeutics (NASDAQ:INKT) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.51). Sell-side analysts predict that MiNK Therapeutics, Inc. will post -2.75 earnings per share for the current year.

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.