Millennium Management LLC trimmed its position in NewLink Genetics Corp (NASDAQ:NLNK) by 34.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,554 shares of the biotechnology company’s stock after selling 69,751 shares during the quarter. Millennium Management LLC owned about 0.35% of NewLink Genetics worth $626,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Quantitative Systematic Strategies LLC purchased a new position in shares of NewLink Genetics in the second quarter worth about $133,000. Pennsylvania Trust Co acquired a new stake in NewLink Genetics during the second quarter worth about $395,000. Acadian Asset Management LLC acquired a new stake in NewLink Genetics during the second quarter worth about $1,231,000. Alambic Investment Management L.P. grew its holdings in NewLink Genetics by 593.8% during the second quarter. Alambic Investment Management L.P. now owns 366,995 shares of the biotechnology company’s stock worth $1,747,000 after acquiring an additional 314,095 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in NewLink Genetics by 125.8% during the second quarter. Renaissance Technologies LLC now owns 405,100 shares of the biotechnology company’s stock worth $1,928,000 after acquiring an additional 225,668 shares during the period. Hedge funds and other institutional investors own 42.26% of the company’s stock.
Several analysts recently commented on the company. Stifel Nicolaus lowered NewLink Genetics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $8.00 to $4.00 in a report on Wednesday, August 1st. Zacks Investment Research raised NewLink Genetics from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Saturday, August 4th. Finally, Bank of America dropped their target price on NewLink Genetics from $6.00 to $5.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $4.75.
NewLink Genetics (NASDAQ:NLNK) last posted its earnings results on Thursday, November 1st. The biotechnology company reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.22. The firm had revenue of $0.12 million for the quarter, compared to analyst estimates of $2.10 million. NewLink Genetics had a negative return on equity of 42.27% and a negative net margin of 253.52%. Analysts predict that NewLink Genetics Corp will post -1.48 EPS for the current year.
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NewLink Genetics Company Profile
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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