NKGen Biotech (NYSE:NKGN) Trading Down 2.3% – Time to Sell?

NKGen Biotech, Inc. (NYSE:NKGN)’s stock price dropped 2.3% during mid-day trading on Monday . The company traded as low as $0.67 and last traded at $0.70. Approximately 466,789 shares were traded during trading, a decline of 72% from the average daily volume of 1,656,951 shares. The stock had previously closed at $0.71.

NKGen Biotech Stock Down 6.0 %

The company’s 50-day moving average price is $0.43 and its 200-day moving average price is $0.69. The firm has a market cap of $23.17 million, a price-to-earnings ratio of -0.13 and a beta of 0.76.

Hedge Funds Weigh In On NKGen Biotech

An institutional investor recently raised its position in NKGen Biotech stock. Sequoia Financial Advisors LLC lifted its stake in NKGen Biotech, Inc. (NYSE:NKGN) by 273.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,000 shares of the company’s stock after purchasing an additional 50,500 shares during the period. Sequoia Financial Advisors LLC owned about 0.27% of NKGen Biotech worth $26,000 at the end of the most recent 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.