Nantkwest (NASDAQ:NK) Stock Rating Lowered by Zacks Investment Research

Nantkwest (NASDAQ:NK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors 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. “

A number of other equities research analysts also recently weighed in on the company. BidaskClub upgraded Nantkwest from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 25th. Piper Sandler began coverage on Nantkwest in a research report on Wednesday. They set an “overweight” rating and a $18.00 price target on the stock.

Nantkwest stock opened at $13.80 on Thursday. The firm’s 50 day simple moving average is $8.55 and its 200 day simple moving average is $5.51. 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 firm has a market capitalization of $1.39 billion, a PE ratio of -20.29 and a beta of 3.14. Nantkwest has a 1-year low of $1.04 and a 1-year high of $15.34.

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). The firm had revenue of $0.02 million for the quarter. Nantkwest had a negative return on equity of 51.94% and a negative net margin of 112,350.85%. Research analysts forecast that Nantkwest will post -0.54 earnings per share for the current year.

In other Nantkwest news, insider Barry J. Simon sold 36,932 shares of Nantkwest stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $5.52, for a total transaction of $203,864.64. Following the sale, the insider now directly owns 3,269,906 shares of the company’s stock, valued at approximately $18,049,881.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Patrick Soon-Shiong acquired 3,710,000 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 23,750,750 shares in the company, valued at approximately $287,859,090. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 223,305 shares of company stock worth $1,959,145. Insiders own 71.73% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of NK. Credit Suisse AG bought a new stake in shares of Nantkwest in the 4th quarter worth approximately $480,000. Morgan Stanley boosted its position in shares of Nantkwest by 548.4% in the 1st quarter. Morgan Stanley now owns 65,535 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 55,428 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Nantkwest by 2.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,634,925 shares of the biotechnology company’s stock worth $6,196,000 after acquiring an additional 39,200 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Nantkwest by 29.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 164,703 shares of the biotechnology company’s stock worth $625,000 after acquiring an additional 37,660 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in Nantkwest in the 1st quarter worth approximately $105,000. 6.19% of the stock is currently owned by hedge funds and other institutional investors.

About Nantkwest

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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