Zacks Investment Research Downgrades NewLink Genetics Corporation (NASDAQ:NLNK) to Hold

Zacks Investment Research cut shares of NewLink Genetics Corporation (NASDAQ:NLNK) from a buy rating to a hold rating in a 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. “

A number of other equities analysts also recently commented on the company. Robert W. Baird upgraded NewLink Genetics Corporation from a neutral rating to an outperform rating and increased their price objective for the stock from $8.00 to $22.00 in a report on Friday, September 8th. ValuEngine cut NewLink Genetics Corporation from a sell rating to a strong sell rating in a research report on Friday, September 1st. Stifel Nicolaus increased their price objective on NewLink Genetics Corporation from $14.00 to $29.00 and gave the company a buy rating in a research report on Monday, September 11th. Bank of America Corporation assumed coverage on NewLink Genetics Corporation in a research note on Friday, October 13th. They set a buy rating and a $22.00 price objective for the company. Finally, Cantor Fitzgerald set a $26.00 price objective on NewLink Genetics Corporation and gave the stock a buy rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $23.43.

NewLink Genetics Corporation (NLNK) traded down $0.43 during mid-day trading on Wednesday, reaching $9.18. 1,413,200 shares of the company’s stock were exchanged, compared to its average volume of 1,303,535. NewLink Genetics Corporation has a 52 week low of $5.90 and a 52 week high of $25.17.

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In other news, major shareholder Stine Seed Farm, Inc. bought 780,487 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The shares were acquired at an average price of $10.25 per share, with a total value of $7,999,991.75. Following the transaction, the insider now owns 7,857,732 shares in the company, valued at $80,541,753. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 13.70% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in NewLink Genetics Corporation by 1,823.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,269 shares of the biotechnology company’s stock valued at $105,000 after purchasing an additional 9,735 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of NewLink Genetics Corporation during the 3rd quarter valued at $114,000. State of Wisconsin Investment Board bought a new stake in shares of NewLink Genetics Corporation during the 2nd quarter worth $125,000. Trexquant Investment LP lifted its position in shares of NewLink Genetics Corporation by 39.1% during the 2nd quarter. Trexquant Investment LP now owns 18,132 shares of the biotechnology company’s stock worth $133,000 after buying an additional 5,097 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in shares of NewLink Genetics Corporation by 3.4% during the 2nd quarter. Advisor Group Inc. now owns 18,082 shares of the biotechnology company’s stock worth $133,000 after buying an additional 600 shares during the last quarter. 46.09% of the stock is currently owned by institutional investors and hedge funds.

NewLink Genetics Corporation 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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