BlackRock Fund Advisors recently announced the acquisition of new stake in NantKwest Inc. (NASDAQ:NK). The institutional investor has increased its shareholding in the Healthcare company by 178.78% to 1.87 million shares with purchase of 1.2 million shares. This fresh investment now brings its stake to 1.74% valued currently at $20.85 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.29 million to 1.66 million shares.
With over 1.02 million NantKwest Inc. (NK) shares trading Monday and a closing price of $7.30 on the day, the dollar volume was approximately $7.45 million. The shares have shown a negative weekly performance of -6.05% and its price on 08/31/20 lost nearly -0.14%. Currently, there are 98.77M common shares owned by the public and among those 36.02M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for NK have a consensus price objective of $13.00. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the NantKwest Inc. stock is 2.50 for the next 12 months. But an upside of 59.44% will see the stock hit the forecast high price target while mean target price for the stock is $13.00.
Insiders at the company have transacted a total of 36 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 8 of these insider trades were purchases, accounting for 3,950,634 shares. Insider sales of the common stock occurred on 28 occasions, with total insider shares sold totaling 628,890 shares.
The top 3 mutual fund holders in NantKwest Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.91 million shares of the company’s stock, all valued at over $10.16 million. The company sold 41700.0 shares recently to bring their total holdings to about 0.85% of the shares outstanding. iShares Russell 2000 ETF sold 28084.0 shares to see its total holdings shrink to 0.6 million shares valued at over $6.73 million and representing 0.56% of the shares outstanding. Vanguard Extended Market Index Fu sold 4411.0 shares to bring its total holdings to over 0.48 million shares at a value of $5.42 million. Vanguard Extended Market Index Fu now owns shares totaling to 0.45% of the shares outstanding.
Shares of NantKwest Inc. (NASDAQ: NK) opened at $7.38, up $0.07 from a prior closing price of $7.31. However, the script later closed the day at $7.30, down -0.14%. The company’s stock has a 5-day price change of -6.05% and -2.54% over the past three months. NK shares are trading 92.61% year to date (YTD), with the 12-month market performance up to 461.54% higher. It has a 12-month low price of $1.04 and touched a high of $15.70 over the same period. Currently, 1.02 million shares have been traded, compared to an average intraday trading volume of 2.24 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -20.68%, -35.64%, and 19.87% respectively.
Institutional ownership of NantKwest Inc. (NASDAQ: NK) shares accounts for 9.80% of the company’s 98.77M shares outstanding. Mutual fund holders own 5.73%, while other institutional holders and individual stakeholders account for 70.60% and 4.09% respectively.
It has a market capitalization of $788.25M and a beta (3y monthly) value of 2.56. The earnings-per-share (ttm) stands at -$0.71. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.25% over the week and 8.48% over the month.
Analysts forecast that NantKwest Inc. (NK) will achieve an EPS of -$0.18 for the current quarter, -$0.18 for the next quarter and -$0.84 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.18 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$0.16 a year ago. Earnings per share for the fiscal year are expected to increase by 42.60%, and -12.00% over the next financial year. EPS should grow at an annualized rate of -1.70% over the next five years, compared to -54.10% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate NantKwest Inc. (NK) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 1 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NK, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on July 08, 2020, with the firm’s price target at $18. Citigroup coverage for the NantKwest Inc. (NK) stock in a research note released on May 31, 2019 offered a Sell rating with a price target of. Citigroup was of a view on November 30, 2018 that the stock is Neutral, while Citigroup gave the stock Sell rating on October 17, 2018, issuing a price target of. Citigroup on their part issued Neutral rating on August 09, 2018.