Insider Buying: NewLink Genetics Corporation (NLNK) Major Shareholder Acquires 780,487 Shares of Stock
NewLink Genetics Corporation (NASDAQ:NLNK) major shareholder Stine Seed Farm, Inc. purchased 780,487 shares of the firm’s stock in a transaction that occurred on Friday, October 6th. The stock was bought at an average cost of $10.25 per share, for a total transaction of $7,999,991.75. Following the completion of the purchase, the insider now directly owns 7,857,732 shares in the company, valued at approximately $80,541,753. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
NewLink Genetics Corporation (NLNK) traded down 7.20% during mid-day trading on Friday, reaching $10.70. 2,394,761 shares of the company’s stock were exchanged. The stock’s market capitalization is $314.80 million. NewLink Genetics Corporation has a 1-year low of $5.90 and a 1-year high of $25.17. The firm’s 50-day moving average is $10.02 and its 200 day moving average is $11.87.
NewLink Genetics Corporation (NASDAQ:NLNK) last posted its quarterly earnings data on Friday, July 28th. The biotechnology company reported ($0.57) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.78) by $0.21. The business had revenue of $10.37 million during the quarter, compared to analyst estimates of $2.65 million. NewLink Genetics Corporation had a negative net margin of 161.94% and a negative return on equity of 55.03%. Analysts forecast that NewLink Genetics Corporation will post ($2.82) earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of NLNK. Columbus Circle Investors raised its position in shares of NewLink Genetics Corporation by 72.5% in the second quarter. Columbus Circle Investors now owns 591,765 shares of the biotechnology company’s stock valued at $4,349,000 after buying an additional 248,724 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of NewLink Genetics Corporation in the first quarter valued at approximately $5,127,000. Ameriprise Financial Inc. acquired a new position in NewLink Genetics Corporation during the first quarter worth approximately $3,453,000. Marshall Wace North America L.P. acquired a new position in NewLink Genetics Corporation during the first quarter worth approximately $2,578,000. Finally, MARSHALL WACE ASIA Ltd acquired a new position in NewLink Genetics Corporation during the first quarter worth approximately $2,578,000. 54.78% of the stock is owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on NLNK shares. Stifel Nicolaus raised their price target on shares of NewLink Genetics Corporation from $14.00 to $29.00 and gave the company a “buy” rating in a research note on Monday, September 11th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $26.00 price target on shares of NewLink Genetics Corporation in a research note on Friday, September 8th. Jefferies Group LLC raised shares of NewLink Genetics Corporation from a “hold” rating to a “buy” rating and raised their price target for the company from $7.00 to $26.00 in a research note on Friday, September 8th. Zacks Investment Research raised shares of NewLink Genetics Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, July 29th. Finally, Robert W. Baird lowered shares of NewLink Genetics Corporation from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $8.00 in a research note on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $26.60.
About NewLink Genetics Corporation
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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