NantKwest Inc. (NASDAQ:NK) has been given a consensus recommendation of “Buy” by the six research firms that are presently covering the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $20.00.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded NantKwest from a “sell” rating to a “hold” rating in a research note on Friday, June 24th. Piper Jaffray Cos. restated an “overweight” rating and issued a $23.00 price target (down previously from $32.00) on shares of NantKwest in a research note on Wednesday, August 17th. Finally, Canaccord Genuity restated a “buy” rating and issued a $18.00 price target on shares of NantKwest in a research note on Friday, August 19th.
In related news, insider Barry J. Simon sold 32,000 shares of the company’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 completion of the sale, the insider now owns 3,334,906 shares in the company, valued at $24,978,445.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 73.06% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in NantKwest during the first quarter valued at about $137,000. State Street Corp raised its stake in NantKwest by 23.2% in the first quarter. State Street Corp now owns 124,630 shares of the company’s stock valued at $1,025,000 after buying an additional 23,497 shares in the last quarter. Geode Capital Management LLC raised its stake in NantKwest by 3.5% in the first quarter. Geode Capital Management LLC now owns 88,365 shares of the company’s stock valued at $726,000 after buying an additional 2,998 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in NantKwest by 38.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 48,400 shares of the company’s stock valued at $302,000 after buying an additional 13,500 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in NantKwest by 2,653.3% in the first quarter. Royal Bank of Canada now owns 16,520 shares of the company’s stock valued at $136,000 after buying an additional 15,920 shares in the last quarter. 24.13% of the stock is owned by institutional investors and hedge funds.
Shares of NantKwest (NASDAQ:NK) opened at 7.41 on Friday. The stock’s 50 day moving average price is $8.06 and its 200 day moving average price is $7.63. NantKwest has a 12 month low of $5.43 and a 12 month high of $19.43. The stock’s market capitalization is $609.92 million.
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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