Pictet Asset Management SA Cuts Stake in Neoleukin Therapeutics, Inc. (NASDAQ:NLTX)

Pictet Asset Management SA reduced its stake in Neoleukin Therapeutics, Inc. (NASDAQ:NLTXGet Rating) by 69.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 781,551 shares of the company’s stock after selling 1,792,764 shares during the period. Pictet Asset Management SA’s holdings in Neoleukin Therapeutics were worth $805,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Adviser Investments LLC grew its stake in shares of Neoleukin Therapeutics by 347.6% in the first quarter. Adviser Investments LLC now owns 46,817 shares of the company’s stock worth $88,000 after acquiring an additional 36,357 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Neoleukin Therapeutics by 50.4% during the first quarter. Renaissance Technologies LLC now owns 1,268,969 shares of the company’s stock valued at $2,386,000 after purchasing an additional 425,357 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Neoleukin Therapeutics by 10.7% during the first quarter. Bank of America Corp DE now owns 212,530 shares of the company’s stock valued at $399,000 after purchasing an additional 20,605 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Neoleukin Therapeutics by 45.5% during the first quarter. Goldman Sachs Group Inc. now owns 66,772 shares of the company’s stock valued at $126,000 after purchasing an additional 20,875 shares in the last quarter. Finally, Shay Capital LLC bought a new position in shares of Neoleukin Therapeutics during the first quarter valued at $52,000. 49.19% of the stock is owned by hedge funds and other institutional investors.

Neoleukin Therapeutics Stock Performance

NLTX stock opened at $0.43 on Wednesday. Neoleukin Therapeutics, Inc. has a fifty-two week low of $0.38 and a fifty-two week high of $5.76. The business’s 50-day moving average is $0.62 and its two-hundred day moving average is $0.90. The company has a market cap of $18.31 million, a price-to-earnings ratio of -0.40 and a beta of 1.18.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on NLTX shares. Stifel Nicolaus downgraded Neoleukin Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. HC Wainwright downgraded Neoleukin Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, November 16th. Mizuho downgraded Neoleukin Therapeutics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $2.00 in a report on Tuesday, November 15th. Canaccord Genuity Group downgraded Neoleukin Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. Finally, Bank of America downgraded Neoleukin Therapeutics from a “buy” rating to an “underperform” rating in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $6.00.

About Neoleukin Therapeutics

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Neoleukin Therapeutics, Inc, a biopharmaceutical company, develops immunotherapies for cancer, inflammation, and autoimmunity disorders using protein design technology. The company's lead product candidate is NL-201, a de novo protein designed to mimic the therapeutic activity of the cytokines interleukin (IL)-2/IL-15 for the treatment of various types of cancer, including renal cell carcinoma and melanoma.

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Institutional Ownership by Quarter for Neoleukin Therapeutics (NASDAQ:NLTX)

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