Zacks Investment Research Downgrades Neoleukin Therapeutics (NASDAQ:NLTX) to Sell

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Neoleukin Therapeutics (NASDAQ:NLTX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Neoleukin Therapeutics Inc. is a biopharmaceutical company. It is engaged in creating next generation immunotherapies using de novo protein design technology. The company’s product candidate consists of NL-201 which is in clinical stage. Neoleukin Therapeutics Inc., formerly known as Aquinox Pharmaceuticals Inc., is based in Seattle, United States. “

Several other research firms have also recently issued reports on NLTX. Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 price target on shares of Neoleukin Therapeutics in a research note on Thursday, June 25th. ValuEngine raised Neoleukin Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of Neoleukin Therapeutics in a research note on Monday, May 18th. Bank of America initiated coverage on Neoleukin Therapeutics in a report on Monday, March 16th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, Mizuho restated a “buy” rating and issued a $21.00 target price on shares of Neoleukin Therapeutics in a research note on Tuesday, June 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $21.14.

Shares of Neoleukin Therapeutics stock opened at $13.93 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 24.92 and a current ratio of 24.92. The company has a market cap of $534.72 million, a price-to-earnings ratio of -5.22 and a beta of -4.41. The business’s 50 day moving average price is $13.94 and its 200 day moving average price is $11.76. Neoleukin Therapeutics has a one year low of $2.37 and a one year high of $18.13.

Neoleukin Therapeutics (NASDAQ:NLTX) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.05. On average, analysts predict that Neoleukin Therapeutics will post -0.88 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Neoleukin Therapeutics by 13.2% in the 1st quarter. State Street Corp now owns 13,753 shares of the company’s stock worth $157,000 after purchasing an additional 1,600 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Neoleukin Therapeutics by 36.4% in the first quarter. Royal Bank of Canada now owns 68,674 shares of the company’s stock worth $781,000 after buying an additional 18,315 shares during the period. Redmile Group LLC grew its position in Neoleukin Therapeutics by 110.4% during the 1st quarter. Redmile Group LLC now owns 4,041,211 shares of the company’s stock worth $45,989,000 after purchasing an additional 2,120,380 shares in the last quarter. Orbimed Advisors LLC grew its holdings in shares of Neoleukin Therapeutics by 2.4% during the first quarter. Orbimed Advisors LLC now owns 921,800 shares of the company’s stock valued at $10,490,000 after buying an additional 21,800 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in Neoleukin Therapeutics during the 1st quarter valued at about $459,000. 59.29% of the stock is owned by institutional investors and hedge funds.

Neoleukin Therapeutics Company Profile

Neoleukin Therapeutics, Inc, a biopharmaceutical company, develops immunotherapies using protein design technology. The company's lead product candidate is NL-201, a computationally-designed de novo protein therapeutic for the treatment of IL-2/IL-15 cancer immunotherapy. It also engages in research activities for the treatment of autoimmunity and allergy.

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