Nantkwest (NK) Downgraded to Hold at Zacks Investment Research

Nantkwest (NASDAQ:NK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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 analysts have also issued reports on the stock. BidaskClub lowered shares of Nantkwest from a “sell” rating to a “strong sell” rating in a research report on Friday, September 22nd. Raymond James Financial reissued a “hold” rating on shares of Nantkwest in a research report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $5.25.

Shares of Nantkwest (NK) traded up $0.17 on Tuesday, hitting $4.56. 239,100 shares of the company’s stock traded hands, compared to its average volume of 233,291. Nantkwest has a one year low of $2.71 and a one year high of $8.45. The firm has a market capitalization of $362.32 and a PE ratio of -3.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.47 and a current ratio of 5.47.

Institutional investors and hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC bought a new position in Nantkwest during the second quarter valued at approximately $102,000. Gotham Asset Management LLC bought a new position in Nantkwest during the second quarter valued at approximately $104,000. Nationwide Fund Advisors raised its position in Nantkwest by 67.6% during the second quarter. Nationwide Fund Advisors now owns 17,302 shares of the biotechnology company’s stock valued at $131,000 after acquiring an additional 6,977 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Nantkwest during the third quarter valued at approximately $139,000. Finally, JPMorgan Chase & Co. raised its position in Nantkwest by 155.8% during the third quarter. JPMorgan Chase & Co. now owns 25,579 shares of the biotechnology company’s stock valued at $140,000 after acquiring an additional 71,444 shares in the last quarter. 19.11% of the stock is currently owned by hedge funds and other institutional investors.

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Nantkwest Company Profile

NantKwest, Inc is a clinical-stage immunotherapy company. The Company is focused on harnessing the power of the innate immune system by using the natural killer cell to treat cancer, infectious diseases and inflammatory diseases. Its immuno-oncology NK platform has multiple modes to induce cell death against the tumor or infected cell by direct killing by binding to stress ligands expressed by the diseased cell with the release of toxic granules directly into the tumor cell; antibody mediated killing by binding to antibodies administered in combination and enhancing the cancer killing effect of the administered antibody, enabling targeted cell killing through antibody dependent cellular cytotoxicity (ADCC), and target activated killing by binding to known or newly discovered tumor-specific antigens expressed on the surface of tumor cells and inducing cell death by the release of toxic granules directly into the tumor cell and by the release of cytokines and chemokines.

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