NewLink Genetics Corp (NASDAQ:NLNK) shares fell 7% during trading on Thursday . The stock traded as low as $7.32 and last traded at $7.36. 763,760 shares were traded during mid-day trading, a decline of 8% from the average session volume of 832,666 shares. The stock had previously closed at $7.91.
Several research firms have recently commented on NLNK. Bank of America decreased their price objective on NewLink Genetics from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, March 2nd. Cantor Fitzgerald set a $26.00 price objective on NewLink Genetics and gave the stock a “buy” rating in a report on Friday, March 2nd. Zacks Investment Research upgraded NewLink Genetics from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a report on Wednesday, January 3rd. BidaskClub upgraded NewLink Genetics from a “sell” rating to a “hold” rating in a report on Friday, January 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $21.00 price objective (down previously from $25.00) on shares of NewLink Genetics in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. NewLink Genetics presently has a consensus rating of “Buy” and a consensus price target of $21.57.
The stock has a market capitalization of $273.47, a price-to-earnings ratio of -3.08 and a beta of 1.25.
A number of large investors have recently made changes to their positions in the stock. Redmile Group LLC increased its holdings in NewLink Genetics by 67.9% during the 4th quarter. Redmile Group LLC now owns 2,096,490 shares of the biotechnology company’s stock valued at $17,003,000 after purchasing an additional 847,790 shares during the period. Vident Investment Advisory LLC bought a new stake in NewLink Genetics during the 4th quarter valued at approximately $1,221,000. Millennium Management LLC boosted its position in NewLink Genetics by 56.6% during the 4th quarter. Millennium Management LLC now owns 2,347,359 shares of the biotechnology company’s stock valued at $19,037,000 after acquiring an additional 848,752 shares in the last quarter. Teachers Advisors LLC boosted its position in NewLink Genetics by 79.8% during the 4th quarter. Teachers Advisors LLC now owns 133,355 shares of the biotechnology company’s stock valued at $1,082,000 after acquiring an additional 59,201 shares in the last quarter. Finally, Raymond James & Associates bought a new stake in NewLink Genetics during the 4th quarter valued at approximately $240,000. Institutional investors own 65.14% of the company’s stock.
About NewLink Genetics
NewLink Genetics Corporation is a clinical-stage immuno-oncology company focused on discovering, developing and commercializing immunotherapeutic products for the treatment of cancer. The Company’s portfolio includes biologic and small-molecule immunotherapy product candidates for a range of oncology indications.
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