Nantkwest (NASDAQ:NK) Rating Increased to Hold at BidaskClub

Nantkwest (NASDAQ:NK) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Saturday, BidAskClub reports.

A number of other brokerages have also recently issued reports on NK. Zacks Investment Research cut shares of Nantkwest from a “hold” rating to a “sell” rating in a research note on Thursday, August 20th. Piper Sandler started coverage on shares of Nantkwest in a research report on Wednesday, July 8th. They set an “overweight” rating and a $18.00 price target on the stock.

Shares of NK stock opened at $8.49 on Friday. Nantkwest has a 52-week low of $1.04 and a 52-week high of $15.70. The company has a quick ratio of 6.76, a current ratio of 6.76 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $8.51 and its two-hundred day moving average price is $7.11.

Nantkwest (NASDAQ:NK) last announced its quarterly earnings data on Friday, August 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Nantkwest had a negative net margin of 162,086.03% and a negative return on equity of 52.71%. As a group, sell-side analysts expect that Nantkwest will post -0.75 earnings per share for the current fiscal year.

In related news, CEO Patrick Soon-Shiong acquired 3,710,000 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average cost of $12.12 per share, with a total value of $44,965,200.00. Following the transaction, the chief executive officer now owns 23,750,750 shares of the company’s stock, valued at approximately $287,859,090. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Barry J. Simon sold 29,609 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $13.01, for a total transaction of $385,213.09. Following the completion of the sale, the insider now directly owns 3,204,243 shares in the company, valued at $41,687,201.43. The disclosure for this sale can be found here. Over the last three months, insiders have sold 324,868 shares of company stock worth $4,157,792. Insiders own 72.08% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Nantkwest by 24.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,733,043 shares of the biotechnology company’s stock valued at $21,282,000 after acquiring an additional 341,483 shares in the last quarter. Geode Capital Management LLC increased its stake in Nantkwest by 11.4% in the 1st quarter. Geode Capital Management LLC now owns 321,499 shares of the biotechnology company’s stock valued at $925,000 after buying an additional 32,865 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Nantkwest by 22.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 206,003 shares of the biotechnology company’s stock valued at $2,530,000 after buying an additional 37,948 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Nantkwest by 67.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 180,842 shares of the biotechnology company’s stock valued at $2,221,000 after buying an additional 72,991 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of Nantkwest during the 2nd quarter worth about $1,385,000. 9.72% of the stock is currently owned by institutional investors and hedge funds.

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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