NantKwest Inc. [NASDAQ: NK] loss -16.75% on the last trading session, reaching $11.18 price per share at the time. The company report on June 29, 2020 that NantKwest Announces Closing of $90.7 Million Public Offering of Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares.
NantKwest, Inc. (Nasdaq: NK), a clinical-stage, natural killer cell-based therapeutics company, announced today the closing of its previously announced underwritten public offering of an aggregate of 8,521,500 shares of its common stock (4,811,500 shares at a price to the public of $9.50 per share and 3,710,000 shares at a price of $12.12 per share to NantKwest’s chairman, chief executive officer and principal stockholder, Dr. Patrick Soon-Shiong), which includes 1,111,500 shares sold upon full exercise of the underwriters’ option to purchase additional shares at a public offering price of $9.50 per share, less the underwriting discounts and commissions. All of the shares were offered by NantKwest. Including the option exercise, the aggregate gross proceeds of the offering were approximately $90.7 million, before deducting the underwriting discounts and commissions and other offering expenses.
Piper Sandler & Co. acted as the sole book-running manager for the offering. LifeSci Capital acted as co-manager for the offering.
NantKwest Inc. represents 98.47 million in outstanding shares, while the company has a total market value of $1.42 billion with the latest information. NK stock price has been found in the range of $11.05 to $13.657.
If compared to the average trading volume of 2.51M shares, NK reached a trading volume of 2526424 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about NantKwest Inc. [NK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NK shares is $10.75 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NK stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Piper Sandler have made an estimate for NantKwest Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 08, 2020. The new note on the price target was released on May 31, 2019, representing the official price target for NantKwest Inc. stock.
The Average True Range (ATR) for NantKwest Inc. is set at 1.32, with the Price to Sales ratio for NK stock in the period of the last 12 months amounting to 24109.01. The Price to Book ratio for the last quarter was 10.75, with the Price to Cash per share for the same quarter was set at 0.32.
Trading performance analysis for NK stock
NantKwest Inc. [NK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -15.56. With this latest performance, NK shares dropped by -4.77% in over the last four-week period, additionally plugging by 76.90% over the last 6 months – not to mention a rise of 787.30% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NK stock in for the last two-week period is set at 42.93, with the RSI for the last a single of trading hit 34.36, and the three-weeks RSI is set at 48.56 for NantKwest Inc. [NK]. The present Moving Average for the last 50 days of trading for this stock 10.37, while it was recorded at 12.81 for the last single week of trading, and 5.28 for the last 200 days.
NantKwest Inc. [NK]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and NantKwest Inc. [NK] shares currently have an operating margin of -155597.67. NantKwest Inc.’s Net Margin is presently recorded at -152997.67.
Return on Total Capital for NK is now -46.39, given the latest momentum, and Return on Invested Capital for the company is -46.41. Return on Equity for this stock declined to -49.34, with Return on Assets sitting at -40.08. When it comes to the capital structure of this company, NantKwest Inc. [NK] has a Total Debt to Total Equity ratio set at 12.30. Additionally, NK Total Debt to Total Capital is recorded at 10.96, with Total Debt to Total Assets ending up at 10.15. Long-Term Debt to Equity for the company is recorded at 9.02, with the Long-Term Debt to Total Capital now at 8.03.
Reflecting on the efficiency of the workforce at the company, NantKwest Inc. [NK] managed to generate an average of -$444,520 per employee. Receivables Turnover for the company is 0.01 with a Total Asset Turnover recorded at a value of 0.00.NantKwest Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.
NantKwest Inc. [NK]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, NantKwest Inc. posted -0.17/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 29.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NantKwest Inc. go to -1.70%.
An analysis of insider ownership at NantKwest Inc. [NK]
There are presently around $69 million, or 6.00% of NK stock, in the hands of institutional investors. The top three institutional holders of NK stocks are: RENAISSANCE TECHNOLOGIES LLC with ownership of 1,689,963, which is approximately 3.366% of the company’s market cap and around 25.50% of the total institutional ownership; VANGUARD GROUP INC, holding 1,391,560 shares of the stock with an approximate value of $15.56 million in NK stocks shares; and BLACKROCK INC., currently with $7.56 million in NK stock with ownership of nearly -0.593% of the company’s market capitalization.
Positions in NantKwest Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 33 institutional holders increased their position in NantKwest Inc. [NASDAQ:NK] by around 1,075,039 shares. Additionally, 29 investors decreased positions by around 660,672 shares, while 4 investors held positions by with 4,447,732 shares. The mentioned changes placed institutional holdings at 6,183,443 shares, according to the latest SEC report filing. NK stock had 17 new institutional investments in for a total of 247,861 shares, while 12 institutional investors sold positions of 233,064 shares during the same period.