Initiates Coverage on NantHealth (NASDAQ:NH)

Investment analysts at began coverage on shares of NantHealth (NASDAQ:NHGet Rating) in a research report issued to clients and investors on Wednesday. The firm set a “hold” rating on the stock.

Shares of NH opened at $0.54 on Wednesday. The stock has a fifty day moving average price of $0.62 and a two-hundred day moving average price of $0.79. NantHealth has a 52-week low of $0.46 and a 52-week high of $2.64. The company has a market cap of $48.52 million, a price-to-earnings ratio of -1.08 and a beta of 1.69.

NantHealth (NASDAQ:NHGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.02). During the same quarter in the previous year, the company posted ($0.10) earnings per share. On average, sell-side analysts forecast that NantHealth will post -0.39 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of NantHealth by 2.8% during the third quarter. BlackRock Inc. now owns 1,362,933 shares of the company’s stock worth $2,194,000 after purchasing an additional 37,045 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of NantHealth during the first quarter worth $665,000. Atria Wealth Solutions Inc. acquired a new stake in shares of NantHealth during the first quarter worth $170,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of NantHealth during the fourth quarter worth $181,000. 5.26% of the stock is owned by institutional investors and hedge funds.

NantHealth Company Profile (Get Rating)

NantHealth, Inc, together with its subsidiaries, operates as a healthcare IT company in the United States, Canada, and the United Kingdom. It offers Eviti, a software-as-a-service (SaaS) based clinical decision support solution that centralizes clinical content and treatment cost data from Medicare reimbursements and treatment toxicity data; Eviti Connect, which utilizes the platform to offer pre-authorization automation that helps payers and providers navigate the complexities of cancer care; and Eviti Advisor product that allows physicians to access the Eviti platform's comprehensive library of evidence-based treatment standards and protocols to inform treatment decisions.

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