H.C. Wainwright downgraded MiNK Therapeutics (INKT) to Neutral from Buy with an unchanged price target of $35 after the company announced that a publication discussing the mechanism of action of CAR-iNKT cells was published in Frontiers in Immunology. With the shares up over 400% since last week, the “majority of the enthusiasm has been priced in for the near-term,” the analyst tells investors in a research note. As a result, H.C. Wainwright downgraded MiNK on valuation, It looks to additional updates from the agenT-797 Phase 2 gastric trial in the upcoming months to reevaluate the stock’s thesis.
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