MiNK Therapeutics (NASDAQ:INKT) Stock Rated Buy in New Coverage at HC Wainwright

Equities research analysts at HC Wainwright assumed coverage on shares of MiNK Therapeutics (NASDAQ:INKT) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $38.00 price target on the stock. HC Wainwright‘s price objective would suggest a potential upside of 252.18% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of MiNK Therapeutics in a research note on Friday, October 2nd. Zacks Research downgraded shares of MiNK Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, B. Riley Financial restated a “buy” rating and set a $50.00 target price (up from $43.00) on shares of MiNK Therapeutics in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $44.00.

MiNK Therapeutics Stock Performance

MiNK Therapeutics stock opened at $10.79 on Wednesday. The firm has a market capitalization of $55.03 million, a price-to-earnings ratio of -4.50 and a beta of 0.49. MiNK Therapeutics has a fifty-two week low of $8.48 and a fifty-two week high of $16.93. The stock’s fifty day moving average is $11.31 and its two-hundred day moving average is $11.29.

MiNK Therapeutics (NASDAQ:INKT) last announced its quarterly earnings results 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). As a group, sell-side analysts forecast that MiNK Therapeutics will post -2.20 EPS for the current fiscal year.

Insider Buying and Selling

In other MiNK Therapeutics news, CEO Jennifer Buell sold 6,938 shares of the firm’s stock in a transaction on Monday, October 12th. The stock was sold at an average price of $10.56, for a total transaction of $73,265.28. Following the completion of the transaction, the chief executive officer owned 74,195 shares of the company’s stock, valued at approximately $783,499.20. This trade represents a 8.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 20.40% of the company’s stock.

About MiNK Therapeutics

MiNK Therapeutics, Inc is a clinical-stage biotechnology company focused on developing cell therapies for cancer. The company’s platform is based on invariant natural killer T (iNKT) cells, an immune-cell type that can recognize cancer-related targets and help stimulate broader anti-tumor immune responses.

MiNK’s lead product candidate, agenT-797, is an allogeneic, or donor-derived, iNKT cell therapy designed to be developed as an off-the-shelf treatment. The candidate is being evaluated for use in oncology, including in combination with other cancer treatments such as immune checkpoint inhibitors.