Piper Sandler Begins Coverage on Nantkwest (NASDAQ:NK)

Piper Sandler began coverage on shares of Nantkwest (NASDAQ:NK) in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm issued an overweight rating and a $18.00 target price on the biotechnology company’s stock.

Other analysts have also recently issued research reports about the company. BidaskClub raised Nantkwest from a buy rating to a strong-buy rating in a report on Thursday, June 25th. Zacks Investment Research cut Nantkwest from a hold rating to a sell rating in a report on Tuesday, June 30th.

Shares of NASDAQ:NK opened at $13.80 on Wednesday. The company has a market capitalization of $1.39 billion, a PE ratio of -20.29 and a beta of 3.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.10 and a quick ratio of 3.10. The business has a fifty day moving average price of $8.55 and a two-hundred day moving average price of $5.51. Nantkwest has a 1 year low of $1.04 and a 1 year high of $15.34.

Nantkwest (NASDAQ:NK) last issued its quarterly earnings results on Monday, May 11th. The biotechnology company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.02). Nantkwest had a negative net margin of 112,350.85% and a negative return on equity of 51.94%. The firm had revenue of $0.02 million for the quarter. Sell-side analysts anticipate that Nantkwest will post -0.54 earnings per share for the current year.

In related news, insider Barry J. Simon sold 28,068 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $5.50, for a total transaction of $154,374.00. Following the transaction, the insider now directly owns 3,306,838 shares in the company, valued at approximately $18,187,609. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Barry J. Simon sold 39,950 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $13.14, for a total value of $524,943.00. Following the transaction, the insider now owns 3,210,490 shares in the company, valued at $42,185,838.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,305 shares of company stock worth $1,959,145. 71.73% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. TRUE Private Wealth Advisors bought a new position in Nantkwest in the 2nd quarter worth $30,000. Royal Bank of Canada raised its holdings in Nantkwest by 18.8% in the 1st quarter. Royal Bank of Canada now owns 18,965 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 3,000 shares in the last quarter. Squarepoint Ops LLC bought a new position in Nantkwest in the 1st quarter worth $39,000. Invesco Ltd. bought a new position in Nantkwest in the 1st quarter worth $64,000. Finally, Morgan Stanley raised its holdings in Nantkwest by 548.4% in the 1st quarter. Morgan Stanley now owns 65,535 shares of the biotechnology company’s stock worth $189,000 after purchasing an additional 55,428 shares in the last quarter. Institutional investors own 6.19% of the company’s stock.

Nantkwest Company Profile

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

See Also: What is the LIBOR?

Receive News & Ratings for Nantkwest Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nantkwest and related companies with MarketBeat.com's FREE daily email newsletter.