NantKwest Inc. (NK) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of NantKwest Inc. (NASDAQ:NK) from a hold rating to a buy rating in a report released on Saturday. Zacks Investment Research currently has $8.50 target price on the stock.
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. “
A number of other brokerages have also recently weighed in on NK. Canaccord Genuity reaffirmed a buy rating and issued a $18.00 price target on shares of NantKwest in a research report on Friday, August 19th. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $23.00 price target (down previously from $32.00) on shares of NantKwest in a research report on Wednesday, August 17th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $17.70.
Shares of NantKwest (NASDAQ:NK) opened at 7.59 on Friday. NantKwest has a 52 week low of $5.43 and a 52 week high of $18.74. The firm’s market cap is $624.74 million. The firm’s 50-day moving average price is $6.87 and its 200-day moving average price is $7.17.
In related news, insider Barry J. Simon sold 32,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 3,334,906 shares of the company’s stock, valued at approximately $24,978,445.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 73.06% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Highbridge Capital Management LLC purchased a new position in shares of NantKwest during the third quarter valued at about $210,000. Akanthos Capital Management LLC purchased a new position in shares of NantKwest during the third quarter valued at about $205,000. KCG Holdings Inc. purchased a new position in shares of NantKwest during the third quarter valued at about $110,000. Northern Trust Corp raised 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 valued at $1,417,000 after buying an additional 27,951 shares in the last quarter. Finally, California State Teachers Retirement System raised 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 valued at $274,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 24.30% of the company’s stock.
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.
Receive News & Stock Ratings for NantKwest Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NantKwest Inc. and related stocks with our FREE daily email newsletter.