Sunday, September 27, 2020

Piper Sandler slashes price target on NantKwest Inc. [NK] – find out why.

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NantKwest Inc. [NASDAQ: NK] loss -8.63% or -0.63 points to close at $6.67 with a heavy trading volume of 1320929 shares. The company report on August 24, 2020 that NantKwest and ImmunityBio Sign Collaboration Agreement for Joint Development, Manufacturing, Marketing, and Commercialization of COVID-19 Vaccine and Related Therapeutics.

Both companies agree to share equally in costs relating to COVID-19 therapeutics and vaccine candidates globally; global net profits to be shared 60%/40% in favor of the company contributing the product.

NantKwest, Inc. (Nasdaq: NK), a clinical-stage, natural killer cell-based therapeutics company, and ImmunityBio, a privately held immunotherapy company, today announced the signing of a definitive agreement to jointly develop, manufacture, market, and commercialize therapeutics and vaccines for combating the COVID-19 pandemic.

It opened the trading session at $7.30, the shares rose to $7.36 and dropped to $6.5501, the range by which the price of stock traded the whole day. The daily chart for NK points out that the company has recorded 22.84% gains over the past six months. However, it is still -541.35% lower than its most recent low trading price.

If we look at the average trading volume of 2.24M shares, NK reached to a volume of 1320929 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]:

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 0.78, with the Price to Sales ratio for NK stock in the period of the last 12 months amounting to 16749.46. The Price to Book ratio for the last quarter was 3.88, with the Price to Cash per share for the same quarter was set at 1.02.

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 -14.92. With this latest performance, NK shares dropped by -44.60% in over the last four-week period, additionally plugging by 22.84% over the last 6 months – not to mention a rise of 455.83% 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 26.40, with the RSI for the last a single of trading hit 16.12, and the three-weeks RSI is set at 33.08 for NantKwest Inc. [NK]. The present Moving Average for the last 50 days of trading for this stock 11.22, while it was recorded at 7.20 for the last single week of trading, and 6.15 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 6.80 and a Current Ratio set at 6.80.

NantKwest Inc. [NK]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, NantKwest Inc. posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.10%. 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 $70 million, or 9.80% of NK stock, in the hands of institutional investors. The top three institutional holders of NK stocks are: BLACKROCK INC. with ownership of 2,053,046, which is approximately 203.507% of the company’s market cap and around 25.80% of the total institutional ownership; VANGUARD GROUP INC, holding 1,733,043 shares of the stock with an approximate value of $11.56 million in NK stocks shares; and CVI HOLDINGS, LLC, currently with $5.25 million in NK stock with ownership of nearly New 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 71 institutional holders increased their position in NantKwest Inc. [NASDAQ:NK] by around 6,530,474 shares. Additionally, 19 investors decreased positions by around 2,132,820 shares, while 4 investors held positions by with 1,827,153 shares. The mentioned changes placed institutional holdings at 10,490,447 shares, according to the latest SEC report filing. NK stock had 46 new institutional investments in for a total of 2,835,723 shares, while 10 institutional investors sold positions of 246,135 shares during the same period.

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