NantKwest Inc. (NK) Receives $20.00 Consensus Price Target from Brokerages
Shares of NantKwest Inc. (NASDAQ:NK) have been assigned a consensus rating of “Buy” from the six analysts that are presently covering the stock. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.00.
A number of equities research analysts recently issued reports on NK shares. Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price objective on shares of NantKwest in a research report on Friday, August 19th. Zacks Investment Research downgraded NantKwest from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. Finally, Piper Jaffray Cos. reiterated 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.
In related news, insider Barry J. Simon sold 32,000 shares of the 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 transaction, the insider now owns 3,334,906 shares of the company’s stock, valued at $24,978,445.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 73.06% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KCG Holdings Inc. bought a new position in shares of NantKwest during the third quarter worth about $110,000. Northern Trust Corp boosted its position in shares of NantKwest by 18.1% in the third quarter. Northern Trust Corp now owns 182,122 shares of the company’s stock worth $1,417,000 after buying an additional 27,951 shares during the period. California State Teachers Retirement System boosted its position in shares of NantKwest by 0.9% in the third quarter. California State Teachers Retirement System now owns 35,254 shares of the company’s stock worth $274,000 after buying an additional 300 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of NantKwest by 34.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 328,869 shares of the company’s stock worth $2,559,000 after buying an additional 84,330 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of NantKwest by 2.6% in the third quarter. Rhumbline Advisers now owns 15,865 shares of the company’s stock worth $123,000 after buying an additional 400 shares during the period. 24.13% of the stock is currently owned by hedge funds and other institutional investors.
NantKwest (NASDAQ:NK) opened at 7.57 on Friday. The firm’s 50-day moving average price is $6.90 and its 200 day moving average price is $7.21. NantKwest has a one year low of $5.43 and a one year high of $18.74. The firm’s market capitalization is $623.09 million.
NantKwest Company Profile
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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