NantKwest Inc. (NASDAQ:NK) Given Average Recommendation of “Buy” by Analysts
NantKwest Inc. (NASDAQ:NK) has earned a consensus recommendation of “Buy” from the six ratings firms that are covering the firm. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $20.00.
NK has been the topic of several recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of NantKwest in a research report on Sunday, June 12th. Zacks Investment Research upgraded NantKwest from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $23.00 target price (down from $32.00) on shares of NantKwest in a research note on Wednesday, August 17th.
Shares of NantKwest (NASDAQ:NK) traded up 0.14% on Friday, hitting $7.24. The company had a trading volume of 72,299 shares. NantKwest has a 12-month low of $5.43 and a 12-month high of $19.43. The company’s market capitalization is $595.93 million. The firm has a 50-day moving average price of $8.05 and a 200 day moving average price of $7.66.
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In related news, insider Barry J. Simon sold 32,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $7.49, for a total value of $239,680.00. Following the completion of the sale, the insider now directly owns 3,334,906 shares in the company, valued at approximately $24,978,445.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 73.06% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake 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 period. BlackRock Fund Advisors increased its stake 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 period. BlackRock Institutional Trust Company N.A. increased its stake 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 period. JPMorgan Chase & Co. increased its stake 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 period. Finally, State Street Corp increased its stake 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 period. 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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