NewLink Genetics Corp (NASDAQ:NLNK) shares rose 5.9% during mid-day trading on Wednesday . The company traded as high as $8.58 and last traded at $8.44. Approximately 606,926 shares traded hands during trading, a decline of 52% from the average daily volume of 1,268,812 shares. The stock had previously closed at $7.97.

NLNK has been the subject of a number of recent research reports. Robert W. Baird upgraded NewLink Genetics from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $8.00 to $22.00 in a research note on Friday, September 8th. ValuEngine cut NewLink Genetics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Stifel Nicolaus boosted their price target on NewLink Genetics from $14.00 to $29.00 and gave the stock a “buy” rating in a research note on Monday, September 11th. Bank of America assumed coverage on NewLink Genetics in a research report on Friday, October 13th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Jefferies Group cut their price target on NewLink Genetics from $26.00 to $25.00 and set a “buy” rating for the company in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. NewLink Genetics currently has a consensus rating of “Buy” and an average target price of $23.43.

In related news, major shareholder Stine Seed Farm, Inc. bought 780,487 shares of the company’s stock in a transaction on Friday, October 6th. The shares were acquired at an average price of $10.25 per share, with a total value of $7,999,991.75. Following the transaction, the insider now owns 7,857,732 shares of the company’s stock, valued at $80,541,753. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of NewLink Genetics by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,069 shares of the biotechnology company’s stock valued at $140,000 after purchasing an additional 556 shares in the last quarter. Advisor Group Inc. boosted its holdings in shares of NewLink Genetics by 3.4% during the 2nd quarter. Advisor Group Inc. now owns 18,082 shares of the biotechnology company’s stock worth $133,000 after purchasing an additional 600 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of NewLink Genetics by 11.1% during the 2nd quarter. First Trust Advisors LP now owns 28,598 shares of the biotechnology company’s stock worth $210,000 after purchasing an additional 2,859 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of NewLink Genetics by 1.8% during the 2nd quarter. Wells Fargo & Company MN now owns 165,791 shares of the biotechnology company’s stock worth $1,219,000 after purchasing an additional 2,865 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of NewLink Genetics by 1.2% during the 2nd quarter. State Street Corp now owns 391,464 shares of the biotechnology company’s stock worth $2,875,000 after purchasing an additional 4,630 shares during the last quarter. 52.66% of the stock is owned by hedge funds and other institutional investors.

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About NewLink Genetics

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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