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

MiNK Therapeutics, Inc. (NASDAQ:INKT) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 47,200 shares, an increase of 9.8% from the November 30th total of 43,000 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average daily trading volume, of 46,800 shares, the days-to-cover ratio is presently 1.0 days.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INKT. Robert W. Baird lowered their target price on MiNK Therapeutics from $8.00 to $4.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. HC Wainwright reissued a “buy” rating and issued a $9.00 price target on shares of MiNK Therapeutics in a research note on Friday, November 15th.

MiNK Therapeutics Trading Up 9.6 %

INKT stock opened at $0.63 on Tuesday. The firm has a market cap of $24.97 million, a PE ratio of -1.62 and a beta of 0.10. MiNK Therapeutics has a 1 year low of $0.46 and a 1 year high of $1.90. The company has a fifty day simple moving average of $0.67 and a 200 day simple moving average of $0.78.

Institutional Trading of MiNK Therapeutics

An institutional investor recently raised its position in MiNK Therapeutics stock. Renaissance Technologies LLC increased its position in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% in the 2nd quarter, according to the company in its most recent 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 period. Renaissance Technologies LLC owned 0.37% of MiNK Therapeutics worth $121,000 at the end of the most recent reporting period. Institutional investors own 2.87% of the company’s stock.

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.