Neoleukin Therapeutics (NASDAQ:NLTX) Downgraded by Zacks Investment Research to “Hold”

Neoleukin Therapeutics (NASDAQ:NLTX – Get Review) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Neoleukin Therapeutics Inc. is a biopharmaceutical company. It is engaged in the creation of next-generation immunotherapies using de novo protein design technology. The Company’s product candidate consists of NL-201 which is clinical phase. Neoleukin Therapeutics Inc., formerly known as Aquinox Pharmaceuticals Inc., is based in Seattle, USA.”

Other stock analysts have also recently released reports on the company. Piper Sandler cut her price target on Neoleukin Therapeutics from $30.00 to $25.00 and set an “overweight” rating on the stock in a Wednesday, March 2 report. HC Wainwright restated a “buy” rating and issued a $22.00 price target on Neoleukin Therapeutics shares in a Tuesday, January 11 report.

NASDAQ:NLTX shares opened at $2.28 on Tuesday. The stock’s 50-day moving average price is $3.44 and its two-hundred-day moving average price is $5.47. Neoleukin Therapeutics has a 12-month low of $2.21 and a 12-month high of $13.40. The company has a market capitalization of $96.89 million, a price-earnings ratio of -2.07 and a beta of 1.12.

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Institutional investors have recently increased or reduced their stake in the company. Candriam Luxembourg SCA increased its stake in Neoleukin Therapeutics shares by 67.6% during the 3rd quarter. Candriam Luxembourg SCA now owns 858,173 shares of the company valued at $6,204,000 after purchasing an additional 346,160 shares during the period. Morgan Stanley increased its equity stake in Neoleukin Therapeutics by 82.5% during the 2nd quarter. Morgan Stanley now owns 631,008 shares of the company valued at $5,824,000 after purchasing an additional 285,337 shares during the period. Renaissance Technologies LLC increased its equity stake in Neoleukin Therapeutics by 31.4% during the third quarter. Renaissance Technologies LLC now owns 756,892 shares of the company valued at $5,472,000 after purchasing an additional 180,900 shares during the period. Bank of America Corp DE increased its equity stake in Neoleukin Therapeutics by 481.9% during Q2. Bank of America Corp DE now owns 184,214 shares of the company valued at $1,700,000 after purchasing an additional 152,555 shares during the period. Finally, Millennium Management LLC increased its stake in Neoleukin Therapeutics shares by 77.6% during the 3rd quarter. Millennium Management LLC now owns 280,517 shares of the company valued at $2,028,000 after purchasing an additional 122,546 shares during the period. Institutional investors hold 60.48% of the company’s shares.

About Neoleukin Therapeutics (Get a rating)

Neoleukin Therapeutics, Inc. operates as a biopharmaceutical company, which uses computational methods to design protein therapeutics de novo. The company addresses important medical needs in oncology, inflammation and autoimmunity. Its lead product candidate, NL-201, is a combined IL-2 and IL-15 agonist designed to eliminate binding to alpha receptors.

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