Patrick Soon-Shiong Acquires 3,710,000 Shares of Nantkwest Inc (NASDAQ:NK) Stock

Nantkwest Inc (NASDAQ:NK) CEO Patrick Soon-Shiong bought 3,710,000 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were purchased at an average cost of $12.12 per share, for a total transaction of $44,965,200.00. Following the acquisition, the chief executive officer now owns 23,750,750 shares of the company’s stock, valued at $287,859,090. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Nantkwest stock opened at $10.82 on Wednesday. The firm has a fifty day moving average price of $7.03 and a two-hundred day moving average price of $5.04. The firm has a market cap of $980.16 million, a price-to-earnings ratio of -15.91 and a beta of 3.05. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.10 and a quick ratio of 3.10. Nantkwest Inc has a fifty-two week low of $1.01 and a fifty-two week high of $13.11.

Nantkwest (NASDAQ:NK) last posted its earnings results on Monday, May 11th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing the Zacks’ 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 business had revenue of $0.02 million during the quarter. As a group, sell-side analysts expect that Nantkwest Inc will post -0.54 earnings per share for the current year.

Several hedge funds have recently modified their holdings of NK. Renaissance Technologies LLC grew its holdings in shares of Nantkwest by 2.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,634,925 shares of the biotechnology company’s stock valued at $6,196,000 after purchasing an additional 39,200 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Nantkwest by 11.4% in the 1st quarter. Geode Capital Management LLC now owns 321,499 shares of the biotechnology company’s stock worth $925,000 after acquiring an additional 32,865 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Nantkwest by 29.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 164,703 shares of the biotechnology company’s stock valued at $625,000 after buying an additional 37,660 shares during the period. Credit Suisse AG bought a new position in Nantkwest during the fourth quarter valued at about $480,000. Finally, Morgan Stanley boosted its position in Nantkwest by 548.4% during the first quarter. Morgan Stanley now owns 65,535 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 55,428 shares during the period. 6.19% of the stock is owned by institutional investors.

NK has been the topic of several research reports. Zacks Investment Research cut Nantkwest from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine upgraded shares of Nantkwest from a “sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Finally, BidaskClub upgraded shares of Nantkwest from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 25th.

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.

Further Reading: Technical Analysis of Stocks, How Can It Help

Insider Buying and Selling by Quarter for Nantkwest (NASDAQ:NK)

Receive News & Ratings for Nantkwest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nantkwest and related companies with MarketBeat.com's FREE daily email newsletter.