NantKwest Inc. (NK) Upgraded by Zacks Investment Research to Hold
NantKwest Inc. (NASDAQ:NK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other analysts also recently issued reports on NK. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $23.00 price objective (down previously from $32.00) on shares of NantKwest in a research report on Wednesday, August 17th. Canaccord Genuity reaffirmed a “buy” rating and issued a $18.00 price objective on shares of NantKwest in a research report on Friday, August 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. NantKwest has an average rating of “Buy” and an average price target of $17.40.
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NantKwest (NASDAQ:NK) opened at 6.70 on Wednesday. The firm has a 50-day moving average of $7.89 and a 200 day moving average of $7.57. NantKwest has a 52 week low of $5.43 and a 52 week high of $19.43. The firm’s market capitalization is $551.48 million.
In related news, insider Barry J. Simon sold 32,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $7.49, for a total transaction of $239,680.00. Following the transaction, the insider now directly owns 3,334,906 shares in the company, valued at $24,978,445.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 73.06% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors boosted its position in shares of 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. Vanguard Group Inc. raised its stake in shares of 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 in the last quarter. BlackRock Investment Management LLC raised its stake in shares of NantKwest by 175.0% in the second quarter. BlackRock Investment Management LLC now owns 63,843 shares of the company’s stock valued at $397,000 after buying an additional 40,625 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of NantKwest during the second quarter valued at $228,000. Hedge funds and other institutional investors 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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