Neoleukin Therapeutics (NASDAQ:NLTX) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Neoleukin Therapeutics (NASDAQ:NLTX) from a buy rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

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

Several other analysts have also recently weighed in on the stock. Guggenheim started coverage on shares of Neoleukin Therapeutics in a research note on Tuesday, February 18th. They set a buy rating and a $20.00 price objective on the stock. Canaccord Genuity reaffirmed a buy rating and set a $20.00 price objective on shares of Neoleukin Therapeutics in a research note on Friday, May 8th. ValuEngine raised shares of Neoleukin Therapeutics from a sell rating to a hold rating in a research note on Friday, March 20th. BidaskClub cut shares of Neoleukin Therapeutics from a hold rating to a sell rating in a research note on Friday. Finally, Bank of America started coverage on shares of Neoleukin Therapeutics in a research note on Monday, March 16th. They set a buy rating and a $18.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Neoleukin Therapeutics has an average rating of Buy and a consensus target price of $19.00.

NASDAQ:NLTX opened at $12.18 on Friday. Neoleukin Therapeutics has a 12-month low of $2.19 and a 12-month high of $14.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 24.92 and a quick ratio of 24.92. The firm has a 50-day moving average price of $12.65 and a 200 day moving average price of $10.03.

Neoleukin Therapeutics (NASDAQ:NLTX) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.05. As a group, equities analysts anticipate that Neoleukin Therapeutics will post -0.9 EPS for the current year.

In related news, major shareholder Redmile Group, Llc acquired 32,500 shares of the company’s stock in a transaction that occurred on Monday, March 30th. The shares were acquired at an average cost of $9.94 per share, for a total transaction of $323,050.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders acquired 121,800 shares of company stock worth $1,230,391. Company insiders own 7.10% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Redmile Group LLC raised its holdings in shares of Neoleukin Therapeutics by 110.4% during the first quarter. Redmile Group LLC now owns 4,041,211 shares of the company’s stock worth $45,989,000 after acquiring an additional 2,120,380 shares during the period. EcoR1 Capital LLC grew its position in Neoleukin Therapeutics by 72.8% in the fourth quarter. EcoR1 Capital LLC now owns 3,915,880 shares of the company’s stock valued at $48,244,000 after purchasing an additional 1,650,000 shares in the last quarter. Boxer Capital LLC bought a new position in Neoleukin Therapeutics in the fourth quarter valued at $12,434,000. Orbimed Advisors LLC grew its position in Neoleukin Therapeutics by 2.4% in the first quarter. Orbimed Advisors LLC now owns 921,800 shares of the company’s stock valued at $10,490,000 after purchasing an additional 21,800 shares in the last quarter. Finally, Fairmount Funds Management LLC bought a new position in Neoleukin Therapeutics in the fourth quarter valued at $9,980,000. Institutional investors and hedge funds own 59.29% of the company’s stock.

Neoleukin Therapeutics Company Profile

Neoleukin Therapeutics, Inc, a biopharmaceutical company, develops immunotherapies using protein design technology. The company's lead product candidate is NL-201, a computationally-designed de novo protein therapeutic for the treatment of IL-2/IL-15 cancer immunotherapy. It also engages in research activities for the treatment of autoimmunity and allergy.

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