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

MiNK Therapeutics, Inc. (NASDAQ:INKT) was the target of a large increase in short interest in 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 shares of the stock are short sold. Based on an average trading volume of 46,800 shares, the days-to-cover ratio is currently 1.0 days.

MiNK Therapeutics Stock Up 10.6 %

Shares of NASDAQ INKT opened at $0.70 on Thursday. The firm has a market cap of $27.62 million, a price-to-earnings ratio of -1.79 and a beta of 0.10. The company’s 50-day simple moving average is $0.67 and its 200-day simple moving average is $0.77. MiNK Therapeutics has a 52-week low of $0.46 and a 52-week high of $1.90.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on INKT shares. Robert W. Baird cut their price target on MiNK Therapeutics from $8.00 to $4.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. HC Wainwright restated a “buy” rating and issued a $9.00 price objective on shares of MiNK Therapeutics in a research report on Friday, November 15th.

Institutional Investors Weigh In On MiNK Therapeutics

An institutional investor recently raised its position in MiNK Therapeutics stock. Renaissance Technologies LLC lifted its position in MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,841 shares of the company’s stock after acquiring an additional 22,613 shares during the period. Renaissance Technologies LLC owned 0.37% of MiNK Therapeutics worth $121,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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.