NewLink Genetics Corp (NASDAQ:NLNK) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of NewLink Genetics Corp (NASDAQ:NLNK) from a buy rating to a hold rating in a research report released on Wednesday, November 8th.

According to Zacks, “NewLink Genetics Corporation is a biopharmaceutical company which focuses on discovering, developing and commercializing immunotherapeutic products for cancer treatment. Its portfolio also includes biologic and small-molecule immunotherapy products used for the treatment of oncology indications. NewLink Genetics Corporation is headquartered in Ames, Iowa. “

Several other equities analysts have also issued reports on NLNK. Robert W. Baird upgraded NewLink Genetics from a neutral rating to an outperform rating and lifted their target price for the company from $8.00 to $22.00 in a research note on Friday, September 8th. ValuEngine lowered NewLink Genetics from a sell rating to a strong sell rating in a research note on Friday, September 1st. Stifel Nicolaus lifted their target price on NewLink Genetics from $14.00 to $29.00 and gave the company a buy rating in a research note on Monday, September 11th. Bank of America Corporation started coverage on NewLink Genetics in a research note on Friday, October 13th. They issued a buy rating and a $22.00 target price on the stock. Finally, Jefferies Group LLC cut their target price on NewLink Genetics from $26.00 to $25.00 and set a buy rating on the stock in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $23.43.

NewLink Genetics (NASDAQ:NLNK) traded up $0.14 during mid-day trading on Wednesday, hitting $8.88. The company had a trading volume of 648,813 shares, compared to its average volume of 1,294,875. NewLink Genetics has a 12-month low of $5.90 and a 12-month high of $25.17.

In other news, major shareholder Stine Seed Farm, Inc. bought 780,487 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The stock was purchased at an average price of $10.25 per share, with a total value of $7,999,991.75. Following the completion of the acquisition, the insider now directly owns 7,857,732 shares of the company’s stock, valued at approximately $80,541,753. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 13.70% of the company’s stock.

A number of large investors have recently made changes to their positions in NLNK. UBS Asset Management Americas Inc. acquired a new position in NewLink Genetics in the first quarter valued at approximately $297,000. Parametric Portfolio Associates LLC acquired a new position in NewLink Genetics in the first quarter valued at approximately $555,000. Prudential Financial Inc. acquired a new position in NewLink Genetics in the first quarter valued at approximately $443,000. American International Group Inc. lifted its holdings in NewLink Genetics by 7.1% in the first quarter. American International Group Inc. now owns 13,321 shares of the biotechnology company’s stock valued at $321,000 after acquiring an additional 880 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in NewLink Genetics by 3.0% in the first quarter. Teachers Advisors LLC now owns 207,854 shares of the biotechnology company’s stock valued at $5,009,000 after acquiring an additional 6,047 shares during the period. 46.09% of the stock is owned by institutional investors.

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NewLink Genetics Company Profile

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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