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

Nkarta, Inc. (NASDAQ:NKTX) has earned an average recommendation of “Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $15.00.

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

Nkarta Trading Up 4.2 %

Shares of NKTX opened at $2.21 on Tuesday. The firm’s 50-day moving average is $2.35 and its two-hundred day moving average is $3.62. Nkarta has a twelve month low of $1.96 and a twelve 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 company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Nkarta

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. purchased a new position in shares of Nkarta during the fourth quarter valued at approximately $30,000. Sequoia Financial Advisors LLC purchased a new position in Nkarta during the fourth quarter worth approximately $31,000. Erste Asset Management GmbH purchased a new position in Nkarta during the third quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Nkarta in the 4th quarter valued at $37,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Nkarta by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock valued at $45,000 after purchasing an additional 5,243 shares during the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

About Nkarta

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.