NewLink Genetics (NASDAQ:NLNK) had its price target decreased by Bank of America from $6.00 to $5.00 in a research report released on Friday. Bank of America currently has a neutral rating on the biotechnology company’s stock.
Several other research analysts also recently commented on the company. Zacks Investment Research upgraded NewLink Genetics from a hold rating to a buy rating and set a $3.50 price objective on the stock in a report on Saturday, August 4th. Stifel Nicolaus downgraded NewLink Genetics from a buy rating to a hold rating and reduced their price objective for the stock from $8.00 to $4.00 in a report on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $7.79.
NLNK traded down $0.15 during trading on Friday, hitting $2.12. 1,706,132 shares of the stock were exchanged, compared to its average volume of 416,046. NewLink Genetics has a 1 year low of $1.86 and a 1 year high of $10.41.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its position in NewLink Genetics by 6,778.1% during the 1st quarter. JPMorgan Chase & Co. now owns 493,367 shares of the biotechnology company’s stock valued at $3,577,000 after acquiring an additional 486,194 shares in the last quarter. Alambic Investment Management L.P. boosted its position in NewLink Genetics by 593.8% during the 2nd quarter. Alambic Investment Management L.P. now owns 366,995 shares of the biotechnology company’s stock valued at $1,747,000 after acquiring an additional 314,095 shares in the last quarter. Acadian Asset Management LLC bought a new stake in NewLink Genetics during the 2nd quarter valued at $1,231,000. Renaissance Technologies LLC boosted its position in NewLink Genetics by 125.8% during the 2nd quarter. Renaissance Technologies LLC now owns 405,100 shares of the biotechnology company’s stock valued at $1,928,000 after acquiring an additional 225,668 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in NewLink Genetics by 20.5% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 673,885 shares of the biotechnology company’s stock valued at $3,208,000 after acquiring an additional 114,650 shares in the last quarter. Institutional investors own 42.12% of the company’s stock.
About NewLink Genetics
NewLink Genetics Corporation, a late clinical-stage immuno-oncology company, focuses on discovering and developing novel immunotherapeutic products for the treatment of patients with cancer. It is developing NLG2103, a combination of indoximod and standard of care checkpoint inhibitors, which is in Phase II clinical trial for treating patients with advanced melanoma; and Indigo301, a combination of indoximod with a checkpoint inhibitor that is in Phase III clinical trial for treating patients with advanced unresectable or metastatic melanoma, as well as combination of indoximod with other cancer therapeutics for patients with melanoma, pancreatic cancer, pediatric brain tumors, and acute myeloid leukemia.
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