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

MiNK Therapeutics, Inc. (NASDAQ:INKT - Get Free Report) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 123,000 shares, an increase of 160.6% from the December 31st total of 47,200 shares. Based on an average daily trading volume, of 96,700 shares, the short-interest ratio is currently 1.3 days. Approximately 1.2% of the company's stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in MiNK Therapeutics stock. Renaissance Technologies LLC raised its stake in shares of MiNK Therapeutics, Inc. (NASDAQ:INKT - Free Report) by 21.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,841 shares of the company's stock after buying an additional 22,613 shares during the quarter. Renaissance Technologies LLC owned about 0.37% of MiNK Therapeutics worth $121,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 2.87% of the stock is currently owned by institutional investors.

MiNK Therapeutics Stock Up 22.4 %

NASDAQ:INKT traded up $1.24 during trading hours on Wednesday, hitting $6.75. 136,747 shares of the stock traded hands, compared to its average volume of 48,215. The stock has a 50 day moving average price of $7.22 and a 200 day moving average price of $7.65. The company has a market cap of $267.30 million, a price-to-earnings ratio of -17.29 and a beta of 0.10. MiNK Therapeutics has a 1 year low of $4.56 and a 1 year high of $19.00.

Analysts Set New Price Targets

Several analysts have commented on INKT shares. Robert W. Baird cut their target price on MiNK Therapeutics from $80.00 to $40.00 and set an "outperform" rating on the stock in a research note on Friday, November 15th. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of MiNK Therapeutics in a 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.

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