MiNK Therapeutics (NASDAQ:INKT) Lowered to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of MiNK Therapeutics (NASDAQ:INKT) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. HC Wainwright reissued a “buy” rating and set a $35.00 price objective on shares of MiNK Therapeutics in a report on Monday, May 18th. Weiss Ratings raised shares of MiNK Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised shares of MiNK Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MiNK Therapeutics currently has an average rating of “Hold” and an average target price of $35.00.

MiNK Therapeutics Price Performance

NASDAQ INKT opened at $11.00 on Wednesday. The stock’s 50 day simple moving average is $11.34 and its 200 day simple moving average is $11.23. MiNK Therapeutics has a one year low of $8.48 and a one year high of $18.17. The firm has a market cap of $54.78 million, a PE ratio of -3.87 and a beta of 0.48.

MiNK Therapeutics (NASDAQ:INKT) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.02). As a group, equities analysts expect that MiNK Therapeutics will post -2.75 earnings per share for the current year.

Hedge Funds Weigh In On MiNK Therapeutics

An institutional investor recently raised its position in MiNK Therapeutics stock. Geode Capital Management LLC boosted its position in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,247 shares of the company’s stock after purchasing an additional 1,441 shares during the quarter. Geode Capital Management LLC owned 0.30% of MiNK Therapeutics worth $159,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 2.87% of the company’s stock.

About MiNK Therapeutics

MiNK Therapeutics, Inc is a clinical-stage biotechnology company developing exosome-based immunotherapies for the treatment of solid tumors. The company’s proprietary platform isolates and engineers naturally occurring extracellular vesicles, or exosomes, to deliver therapeutic payloads—such as mRNA, proteins and modulatory factors—directly into the tumor microenvironment. By leveraging the innate cell?to?cell communication properties of exosomes, MiNK aims to reprogram immune cells and overcome immune suppression within solid tumors.

MiNK’s preclinical pipeline features multiple lead candidates designed to repolarize tumor?associated macrophages and boost T cell–mediated tumor clearance.