MiNK Therapeutics, Inc. (NASDAQ:INKT) Sees Large Growth in Short Interest

MiNK Therapeutics, Inc. (NASDAQ:INKT) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 123,000 shares, a growth of 160.6% from the December 31st total of 47,200 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 96,700 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MiNK Therapeutics stock. Renaissance Technologies LLC boosted its holdings in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. 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 approximately 0.37% of MiNK Therapeutics worth $121,000 as of its most recent SEC filing. Institutional investors own 2.87% of the company’s stock.

MiNK Therapeutics Price Performance

Shares of MiNK Therapeutics stock traded up $0.29 during trading hours on Thursday, reaching $6.89. The company had a trading volume of 63,226 shares, compared to its average volume of 49,371. The firm has a market cap of $273.05 million, a PE ratio of -17.67 and a beta of 0.10. MiNK Therapeutics has a one year low of $4.56 and a one year high of $19.00. The business has a fifty day simple moving average of $7.21 and a 200 day simple moving average of $7.65.

Analyst Ratings Changes

INKT has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of MiNK Therapeutics in a research note on Friday, November 15th. Robert W. Baird lowered their price target on shares of MiNK Therapeutics from $80.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th.

MiNK Therapeutics Company Profile

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.