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Investing.com - H.C. Wainwright upgraded MiNK Therapeutics (NASDAQ:INKT) from Neutral to Buy while maintaining a price target of $35.00, citing the company’s second quarter financial results and recent capital raising activities. The stock, which has shown significant volatility with a 119% year-to-date return according to InvestingPro data, currently trades well below analysts’ price targets ranging from $35 to $43.
MiNK reported a second quarter 2025 operating loss of $4.1 million, which was significantly higher compared to the first quarter, likely due to increased expenses associated with clinical programs, according to H.C. Wainwright. The company posted earnings per share of -$0.70 for the quarter. InvestingPro analysis shows the company’s financial health score as ’FAIR’, with current market capitalization at $61 million. Get access to 12 additional ProTips and comprehensive financial analysis with InvestingPro.
The biotechnology firm ended the second quarter with $1.7 million in cash and equivalents, but subsequently announced a $50 million ATM (at-the-market) offering in July 2025. MiNK has already raised $13 million since the quarter ended, selling approximately 478,000 shares under the agreement. Based on InvestingPro Fair Value analysis, the stock appears to be overvalued at current levels.
H.C. Wainwright expects operating expenses to decline slightly in the second half of 2025 from second quarter levels, as a majority of the company’s programs are externally funded. The firm estimates 2025 operating expenses of $13.8 million and earnings per share of -$3.36.
The analyst noted that the recent capital raise should extend MiNK’s cash runway into mid-2026, per company guidance, and cited the significant reversal in stock price gains observed in July as a factor in the rating upgrade.
In other recent news, Mink Therapeutics disclosed its financial results for the second quarter of 2025, reporting a net loss of $4.2 million, which translates to a loss of $1.06 per share. Despite the financial setback, the company remains positive about its innovative programs and strategic partnerships. CEO Dr. Jennifer Buell highlighted Mink Therapeutics’ advanced position in the iNKT cell therapy market. The earnings announcement led to a significant stock price decline, although the company’s leadership maintains a forward-looking stance. These developments reflect the ongoing challenges and opportunities facing Mink Therapeutics as it navigates the competitive landscape. Investors are closely monitoring how the company leverages its strategic initiatives to address financial performance.
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