NantKwest Inc. (NK) Upgraded at Zacks Investment Research
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. “
Other analysts have also recently issued reports about the stock. Canaccord Genuity reaffirmed a buy rating on shares of NantKwest in a research note on Sunday, June 12th. Piper Jaffray Cos. reissued an overweight rating and set a $23.00 price objective (down from $32.00) on shares of NantKwest in a research note on Wednesday, August 17th. Finally, Raymond James Financial Inc. initiated coverage on shares of NantKwest in a research note on Thursday, June 2nd. They set a market perform rating for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $17.40.
NantKwest (NASDAQ:NK) opened at 7.78 on Wednesday. NantKwest has a 12-month low of $5.43 and a 12-month high of $19.43. The firm’s market capitalization is $640.38 million. The company has a 50-day moving average price of $8.03 and a 200-day moving average price of $7.65.
In related news, insider Barry J. Simon sold 32,000 shares of NantKwest stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $7.49, for a total transaction of $239,680.00. Following the transaction, the insider now owns 3,334,906 shares in the company, valued at approximately $24,978,445.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 73.06% of the company’s stock.
Several institutional investors have recently bought and sold shares of NK. Vanguard Group Inc. raised its position in NantKwest by 13.9% in the second quarter. Vanguard Group Inc. now owns 1,583,285 shares of the company’s stock valued at $9,848,000 after buying an additional 193,338 shares during the last quarter. BlackRock Fund Advisors raised its position in NantKwest by 18.5% in the second quarter. BlackRock Fund Advisors now owns 1,449,408 shares of the company’s stock valued at $9,015,000 after buying an additional 226,513 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in NantKwest by 30.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 244,539 shares of the company’s stock valued at $1,521,000 after buying an additional 57,321 shares during the last quarter. JPMorgan Chase & Co. raised its position in NantKwest by 2.2% in the first quarter. JPMorgan Chase & Co. now owns 152,196 shares of the company’s stock valued at $1,251,000 after buying an additional 3,309 shares during the last quarter. Finally, State Street Corp raised its position in NantKwest by 8.5% in the second quarter. State Street Corp now owns 135,270 shares of the company’s stock valued at $843,000 after buying an additional 10,640 shares during the last quarter. Institutional investors and hedge funds own 24.13% of the company’s stock.
NantKwest, Inc, formerly Conkwest, Inc, is a biotechnology company engaged in developing targeted direct-acting immunotherapeutic agents for a range of clinical conditions. The Company is focused on harnessing its immune system by using the natural killer (NK) cell to treat cancer, infectious diseases and inflammatory diseases.
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