MiNK Therapeutics, Inc. (NASDAQ:INKT) Short Interest Update

MiNK Therapeutics, Inc. (NASDAQ:INKT) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 123,000 shares, an increase of 160.6% from the December 31st total of 47,200 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 96,700 shares, the days-to-cover ratio is presently 1.3 days.

MiNK Therapeutics Stock Performance

NASDAQ INKT traded up $1.24 on Wednesday, hitting $6.75. 136,747 shares of the stock were exchanged, compared to its average volume of 48,215. MiNK Therapeutics has a 52-week low of $4.56 and a 52-week high of $19.00. The firm has a market capitalization of $267.30 million, a P/E ratio of -17.29 and a beta of 0.10. The stock has a fifty day moving average price of $7.22 and a two-hundred day moving average price of $7.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Robert W. Baird reduced their target price on shares of MiNK Therapeutics from $80.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of MiNK Therapeutics in a research report on Friday, November 15th.

Hedge Funds Weigh In On MiNK Therapeutics

An institutional investor recently raised its position in MiNK Therapeutics stock. Renaissance Technologies LLC grew its position in MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,841 shares of the company’s stock after buying 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.

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.