Investors Purchase Large Volume of Put Options on Nkarta (NASDAQ:NKTX)

Nkarta, Inc. (NASDAQ:NKTX) was the recipient of some unusual options trading on Tuesday. Investors bought 4,525 put options on the company. This is an increase of approximately 2,359% compared to the average daily volume of 184 put options.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NKTX shares. HC Wainwright lowered their price objective 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. Raymond James raised shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Wednesday, August 14th. Needham & Company LLC decreased their price objective on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 8th. RODMAN&RENSHAW raised Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Rodman & Renshaw initiated coverage on Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 target price on the stock. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Nkarta has an average rating of “Buy” and a consensus price target of $15.00.

Institutional Trading of Nkarta

A number of hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of Nkarta during the 2nd quarter valued at $26,000. GAMMA Investing LLC increased its holdings in Nkarta by 1,887.0% during the second quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after buying an additional 4,491 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Nkarta in the third quarter worth about $33,000. Forefront Analytics LLC purchased a new position in Nkarta in the second quarter valued at about $70,000. Finally, Intech Investment Management LLC bought a new position in shares of Nkarta during the 3rd quarter valued at approximately $74,000. 80.54% of the stock is currently owned by institutional investors.

Nkarta Stock Up 0.8 %

Nkarta stock opened at $2.49 on Wednesday. The stock has a market cap of $175.72 million, a P/E ratio of -1.28 and a beta of 0.82. The company’s 50 day moving average price is $3.30 and its two-hundred day moving average price is $4.93. Nkarta has a 52 week low of $2.35 and a 52 week high of $16.24.

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.