Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX) have earned an average rating of “Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $15.00.

Several research firms have issued reports on NKTX. HC Wainwright cut their price target on shares of Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Needham & Company LLC dropped their price objective on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Mizuho dropped their price objective on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st.

Nkarta Trading Up 4.2 %

NASDAQ NKTX opened at $2.21 on Tuesday. The firm’s fifty day simple moving average is $2.34 and its two-hundred day simple moving average is $3.56. Nkarta has a 12-month low of $1.96 and a 12-month high of $16.24. The firm has a market capitalization of $155.96 million, a P/E ratio of -1.18 and a beta of 0.85.

Insider Activity at Nkarta

In related news, CEO Paul J. Hastings sold 17,378 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total transaction of $38,231.60. Following the completion of the transaction, the chief executive officer now directly owns 319,859 shares in the company, valued at $703,689.80. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Nkarta by 138.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company’s stock worth $6,319,000 after acquiring an additional 1,474,560 shares during the period. Wasatch Advisors LP raised its position in shares of Nkarta by 37.4% in the fourth quarter. Wasatch Advisors LP now owns 2,520,909 shares of the company’s stock worth $6,277,000 after acquiring an additional 686,229 shares during the period. Jefferies Financial Group Inc. raised its position in shares of Nkarta by 901.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company’s stock worth $6,236,000 after acquiring an additional 2,254,219 shares during the period. Tang Capital Management LLC raised its position in shares of Nkarta by 252.9% in the fourth quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company’s stock worth $5,711,000 after acquiring an additional 1,643,719 shares during the period. Finally, Alyeska Investment Group L.P. raised its position in shares of Nkarta by 23.0% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,334,696 shares of the company’s stock worth $3,323,000 after acquiring an additional 250,000 shares during the period. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Company Profile

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis.