Wasatch Advisors LP Reduces Stake in Nkarta, Inc. (NASDAQ:NKTX)

Wasatch Advisors LP lessened its stake in shares of Nkarta, Inc. (NASDAQ:NKTX) by 44.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,168,492 shares of the company’s stock after selling 931,207 shares during the quarter. Wasatch Advisors LP’s holdings in Nkarta were worth $12,631,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in shares of Nkarta during the 3rd quarter valued at $89,000. SG Americas Securities LLC bought a new stake in Nkarta during the fourth quarter valued at $72,000. Bleakley Financial Group LLC purchased a new position in Nkarta during the fourth quarter worth about $70,000. Simplicity Solutions LLC bought a new position in Nkarta in the 4th quarter worth about $70,000. Finally, Bourgeon Capital Management LLC purchased a new stake in shares of Nkarta in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Nkarta Stock Down 10.1 %

NKTX opened at $5.26 on Wednesday. Nkarta, Inc. has a one year low of $1.28 and a one year high of $16.24. The business has a 50 day simple moving average of $6.44 and a two-hundred day simple moving average of $8.36.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Thursday, May 9th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.02). Research analysts anticipate that Nkarta, Inc. will post -2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NKTX shares. HC Wainwright reiterated a “buy” rating and issued a $23.00 price objective on shares of Nkarta in a report on Thursday, June 27th. Mizuho decreased their price objective on Nkarta from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Canaccord Genuity Group dropped their target price on Nkarta from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 10th. Raymond James reaffirmed an “outperform” rating and issued a $16.00 price target (up from $13.00) on shares of Nkarta in a research note on Friday, March 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Nkarta in a research report on Friday, June 28th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $17.83.

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.