Nantkwest (NK) Downgraded to “Hold” at Citigroup

Nantkwest (NASDAQ:NK) was downgraded by equities research analysts at Citigroup to a “hold” rating in a note issued to investors on Friday. They currently have a $3.00 price objective on the biotechnology company’s stock. Citigroup’s price objective indicates a potential downside of 4.76% from the company’s previous close.

Several other equities analysts have also issued reports on the company. BidaskClub lowered Nantkwest from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 5th. ValuEngine upgraded Nantkwest from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.00.

Shares of Nantkwest stock traded down $0.12 during trading on Friday, hitting $3.15. 91,917 shares of the company were exchanged, compared to its average volume of 212,379. The firm has a market capitalization of $232.87 million, a P/E ratio of -2.63 and a beta of 2.90. Nantkwest has a 1-year low of $2.66 and a 1-year high of $6.83. The company has a current ratio of 5.45, a quick ratio of 6.54 and a debt-to-equity ratio of 0.03.

Nantkwest (NASDAQ:NK) last posted its earnings results on Monday, May 7th. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.01). The company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. Nantkwest had a negative return on equity of 49.47% and a negative net margin of 357,603.41%. research analysts anticipate that Nantkwest will post -1.54 EPS for the current fiscal year.

In other news, Director Steve Gorlin sold 26,835 shares of Nantkwest stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $4.13, for a total transaction of $110,828.55. Following the transaction, the director now owns 246,280 shares in the company, valued at approximately $1,017,136.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 237,368 shares of company stock worth $925,876 in the last quarter. 72.30% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. A.R.T. Advisors LLC bought a new stake in Nantkwest in the 1st quarter valued at approximately $119,000. JPMorgan Chase & Co. lifted its stake in Nantkwest by 40.9% in the 1st quarter. JPMorgan Chase & Co. now owns 46,068 shares of the biotechnology company’s stock valued at $179,000 after acquiring an additional 13,366 shares in the last quarter. Deutsche Bank AG lifted its stake in Nantkwest by 116.7% in the 4th quarter. Deutsche Bank AG now owns 67,847 shares of the biotechnology company’s stock valued at $304,000 after acquiring an additional 36,542 shares in the last quarter. Alps Advisors Inc. lifted its stake in Nantkwest by 21.0% in the 1st quarter. Alps Advisors Inc. now owns 106,549 shares of the biotechnology company’s stock valued at $414,000 after acquiring an additional 18,519 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Nantkwest by 40.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,271 shares of the biotechnology company’s stock valued at $521,000 after acquiring an additional 49,040 shares in the last quarter. Institutional investors and hedge funds own 14.20% of the company’s stock.

About Nantkwest

NantKwest, Inc, a clinical-stage immunotherapy biotechnology company, develops immunotherapeutic treatments for cancer, infectious diseases, and inflammatory diseases in the United States. The company develops activated natural killer 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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