Short Interest in MiNK Therapeutics, Inc. (NASDAQ:INKT) Expands By 22.5%

MiNK Therapeutics, Inc. (NASDAQ:INKT) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 62,000 shares, a growth of 22.5% from the August 31st total of 50,600 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average daily volume of 52,600 shares, the short-interest ratio is currently 1.2 days.

MiNK Therapeutics Stock Performance

INKT remained flat at $0.75 during trading on Monday. 15,750 shares of the company’s stock traded hands, compared to its average volume of 97,730. The stock has a market cap of $26.05 million, a price-to-earnings ratio of -1.25 and a beta of 0.06. MiNK Therapeutics has a fifty-two week low of $0.71 and a fifty-two week high of $1.90. The stock has a 50 day moving average price of $0.82 and a 200 day moving average price of $0.91.

MiNK Therapeutics (NASDAQ:INKT) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. Analysts expect that MiNK Therapeutics will post -0.33 earnings per share for the current fiscal year.

Institutional Trading of MiNK Therapeutics

An institutional investor recently raised its position in MiNK Therapeutics stock. Renaissance Technologies LLC increased its holdings in MiNK Therapeutics, Inc. (NASDAQ:INKT) by 21.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,841 shares of the company’s stock after buying an additional 22,613 shares during the period. Renaissance Technologies LLC owned about 0.37% of MiNK Therapeutics worth $121,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 2.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $9.00 target price on shares of MiNK Therapeutics in a report on Tuesday, August 13th.

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.