NKGen Biotech (NYSE:NKGN) Stock Price Down 13% – Time to Sell?

NKGen Biotech, Inc. (NYSE:NKGN)’s stock price dropped 13% during trading on Wednesday . The stock traded as low as $0.24 and last traded at $0.25. Approximately 268,744 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,569,149 shares. The stock had previously closed at $0.29.

NKGen Biotech Stock Down 13.0%

The firm has a market capitalization of $11.24 million, a PE ratio of -0.05 and a beta of 1.20. The company has a 50-day moving average of $0.23 and a 200 day moving average of $0.36.

Institutional Investors Weigh In On NKGen Biotech

Large investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC bought a new stake in shares of NKGen Biotech in the 4th quarter worth approximately $175,000. Kepos Capital LP purchased a new position in NKGen Biotech in the 4th quarter worth $151,000. Sequoia Financial Advisors LLC raised its position in NKGen Biotech by 126.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 156,000 shares of the company’s stock worth $102,000 after purchasing an additional 87,000 shares during the period. Advisory Research Inc. bought a new stake in NKGen Biotech in the fourth quarter worth $28,000. Finally, Geode Capital Management LLC lifted its stake in NKGen Biotech by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 127,168 shares of the company’s stock worth $83,000 after purchasing an additional 14,454 shares during the last quarter. Hedge funds and other institutional investors own 76.17% of the company’s stock.

About NKGen Biotech

NKGen Biotech, Inc operates as a clinical-stage biotechnology company that focuses on the development and commercialization of autologous, allogeneic, and CAR-NK natural killer cell therapies. It develops SNK01, an autologous NK cell therapy; and SNK02, an allogeneic NK cell therapy, which are in Phase 1 clinical trials.