Nantkwest (NASDAQ:NK) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research note issued on Thursday, Zacks.com reports.
According to Zacks, "NantKwest, Inc. is a clinical-stage immunotherapy company. The Company's product candidates include aNK, haNK and taNK for the treatment of cancers, infectious and inflammatory diseases. It is focused on harnessing the power of the innate immune system by using the natural killer cell. NantKwest, Inc. is headquartered in Cardiff-by-the-Sea, California. "
NK has been the topic of several other research reports. BidaskClub upgraded Nantkwest from a "buy" rating to a "strong-buy" rating in a research report on Thursday, June 25th. Piper Sandler initiated coverage on Nantkwest in a research report on Wednesday. They set an "overweight" rating and a $18.00 target price on the stock.
Nantkwest stock opened at $14.99 on Thursday. Nantkwest has a 12 month low of $1.04 and a 12 month high of $15.00. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 0.10. The business's 50 day simple moving average is $8.16 and its 200 day simple moving average is $5.40. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -22.04 and a beta of 3.14.
Nantkwest (NASDAQ:NK) last posted its quarterly earnings data on Monday, May 11th. The biotechnology company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.02). Nantkwest had a negative net margin of 112,350.85% and a negative return on equity of 51.94%. The firm had revenue of $0.02 million during the quarter. As a group, equities research analysts forecast that Nantkwest will post -0.54 earnings per share for the current fiscal year.
In related news, insider Barry J. Simon sold 29,609 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $13.01, for a total value of $385,213.09. Following the transaction, the insider now owns 3,204,243 shares of the company's stock, valued at $41,687,201.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick Soon-Shiong bought 3,710,000 shares of Nantkwest stock in a transaction that occurred on Monday, June 29th. The stock was purchased at an average cost of $12.12 per share, for a total transaction of $44,965,200.00. Following the purchase, the chief executive officer now owns 23,750,750 shares of the company's stock, valued at $287,859,090. The disclosure for this purchase can be found here. In the last three months, insiders sold 183,355 shares of company stock worth $1,434,202. 72.08% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. TRUE Private Wealth Advisors bought a new position in shares of Nantkwest during the second quarter valued at about $30,000. Royal Bank of Canada boosted its holdings in shares of Nantkwest by 18.8% during the first quarter. Royal Bank of Canada now owns 18,965 shares of the biotechnology company's stock worth $54,000 after purchasing an additional 3,000 shares during the period. FNY Investment Advisers LLC purchased a new stake in shares of Nantkwest during the first quarter worth about $28,000. GM Advisory Group Inc. purchased a new stake in shares of Nantkwest during the first quarter worth about $31,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Nantkwest during the first quarter worth about $38,000. 6.19% of the stock is currently owned by hedge funds and other institutional investors.
Nantkwest Company Profile
NantKwest, Inc, a clinical-stage immunotherapy company, develops immunotherapeutic treatments for cancer and viral infectious diseases in the United States. The company develops activated natural killer (aNK) cell, a natural killer cell-line and genetically modified derivative capable of killing cancer and virally infected cells; and NANT cancer vaccine, a personalized therapy that utilizes its off-the-shelf natural killer cells.
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