NantKwest (NASDAQ:NK) Shares Down 7.6% Following Insider Selling


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Shares of NantKwest, Inc. (NASDAQ:NK) dropped 7.6% during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $14.14 and last traded at $14.78. Approximately 1,840,009 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 1,621,164 shares. The stock had previously closed at $15.99.

Specifically, Director John C. Thomas sold 42,592 shares of NantKwest stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $10.83, for a total transaction of $461,271.36. Following the completion of the transaction, the director now directly owns 207,477 shares of the company’s stock, valued at $2,246,975.91. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Sonja Nelson sold 39,271 shares of NantKwest stock in a transaction on Monday, January 4th. The stock was sold at an average price of $13.62, for a total value of $534,871.02. Following the transaction, the chief financial officer now directly owns 59,681 shares of the company’s stock, valued at $812,855.22. The disclosure for this sale can be found here. Insiders sold a total of 228,227 shares of company stock valued at $3,588,102 over the last three months. Insiders own 72.08% of the company’s stock.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised NantKwest from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub cut NantKwest from a “hold” rating to a “sell” rating in a report on Friday, October 23rd.

The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -20.82 and a beta of 2.52. The stock has a fifty day moving average price of $12.33 and a two-hundred day moving average price of $10.05.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in shares of NantKwest in the second quarter valued at $32,000. FNY Investment Advisers LLC purchased a new stake in shares of NantKwest in the third quarter valued at $41,000. Point72 Hong Kong Ltd purchased a new stake in shares of NantKwest in the third quarter valued at $48,000. BNP Paribas Arbitrage SA grew its position in shares of NantKwest by 522.8% in the third quarter. BNP Paribas Arbitrage SA now owns 7,231 shares of the biotechnology company’s stock valued at $50,000 after purchasing an additional 6,070 shares during the period. Finally, Fifth Third Bancorp purchased a new stake in shares of NantKwest in the third quarter valued at $51,000. 9.22% of the stock is owned by institutional investors.

NantKwest Company Profile (NASDAQ:NK)

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.

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