NantKwest, Inc. (NASDAQ:NK) Stake Lowered by Bank of New York Mellon Corp
Bank of New York Mellon Corp cut its position in NantKwest, Inc. (NASDAQ:NK) by 14.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,388 shares of the biotechnology company’s stock after selling 14,225 shares during the period. Bank of New York Mellon Corp’s holdings in NantKwest were worth $292,000 as of its most recent SEC filing.
Separately, Renaissance Technologies LLC bought a new position in NantKwest during the fourth quarter worth approximately $140,000. Institutional investors and hedge funds own 19.75% of the company’s stock.
Shares of NantKwest, Inc. (NASDAQ NK) opened at 5.99 on Tuesday. The firm has a 50-day moving average price of $6.99 and a 200-day moving average price of $4.88. NantKwest, Inc. has a one year low of $2.71 and a one year high of $9.60. The company’s market capitalization is $492.11 million.
A number of research firms recently commented on NK. Zacks Investment Research raised NantKwest from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a research note on Saturday, June 24th. BidaskClub lowered NantKwest from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Jefferies Group LLC set a $4.00 target price on NantKwest and gave the stock a “hold” rating in a report on Monday, May 8th. ValuEngine upgraded NantKwest from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Finally, Citigroup Inc. downgraded NantKwest from a “neutral” rating to a “sell” rating and set a $3.00 target price for the company. in a report on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. NantKwest currently has an average rating of “Hold” and a consensus target price of $10.79.
In other news, Director Steve Gorlin sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $7.78, for a total value of $311,200.00. Following the completion of the transaction, the director now owns 409,725 shares in the company, valued at approximately $3,187,660.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 70.19% of the company’s stock.
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