MiNK Therapeutics (NASDAQ:INKT) Shares Down 3.6% – Here’s What Happened

Shares of MiNK Therapeutics, Inc. (NASDAQ:INKT) dropped 3.6% during trading on Friday . The company traded as low as $11.04 and last traded at $11.05. Approximately 18,386 shares were traded during trading, an increase of 9% from the average session volume of 16,857 shares. The stock had previously closed at $11.46.

Analysts Set New Price Targets

A number of brokerages have weighed in on INKT. HC Wainwright reaffirmed a “buy” rating and set a $35.00 target price on shares of MiNK Therapeutics in a research note on Monday, May 18th. Weiss Ratings raised MiNK Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of MiNK Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $35.00.

MiNK Therapeutics Stock Down 3.6%

The company has a fifty day simple moving average of $11.52 and a 200-day simple moving average of $11.41. The firm has a market cap of $55.03 million, a P/E ratio of -3.89 and a beta of 0.47.

MiNK Therapeutics (NASDAQ:INKT) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.20. As a group, research analysts forecast that MiNK Therapeutics, Inc. will post -2.75 EPS for the current year.

Institutional Investors Weigh In On MiNK Therapeutics

A hedge fund recently bought a new stake in MiNK Therapeutics stock. DRW Securities LLC bought a new position in MiNK Therapeutics, Inc. (NASDAQ:INKT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 25,677 shares of the company’s stock, valued at approximately $286,000. DRW Securities LLC owned approximately 0.55% of MiNK Therapeutics as of its most recent filing with the Securities & Exchange Commission. 2.87% of the stock is owned by institutional investors and hedge funds.

MiNK Therapeutics Company Profile

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.