MiNK Therapeutics, Inc. (NASDAQ:INKT) Sees Significant Increase in Short Interest

MiNK Therapeutics, Inc. (NASDAQ:INKT) was the recipient of a significant 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 trading volume, of 52,600 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On MiNK Therapeutics

A hedge fund recently raised its stake in MiNK Therapeutics stock. Renaissance Technologies LLC boosted its stake in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,841 shares of the company’s stock after acquiring an additional 22,613 shares during the quarter. Renaissance Technologies LLC owned 0.37% of MiNK Therapeutics worth $121,000 at the end of the most recent reporting period. 2.87% of the stock is currently owned by institutional investors.

MiNK Therapeutics Stock Performance

NASDAQ INKT remained flat at $0.75 during trading hours on Monday. The company had a trading volume of 15,750 shares, compared to its average volume of 97,730. MiNK Therapeutics has a 52-week low of $0.71 and a 52-week high of $1.90. The company’s 50-day moving average is $0.82 and its two-hundred day moving average is $0.91. The stock has a market cap of $26.05 million, a PE ratio of -1.25 and a beta of 0.06.

MiNK Therapeutics (NASDAQ:INKT) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.03. On average, equities analysts forecast that MiNK Therapeutics will post -0.33 earnings per share 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.