Nkarta, Inc. (NASDAQ:NKTX) Given Average Rating of “Buy” by Brokerages

Nkarta, Inc. (NASDAQ:NKTX) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $17.50.

Several research firms have recently weighed in on NKTX. Raymond James upgraded Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research report on Wednesday, August 14th. Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price on shares of Nkarta in a research report on Wednesday, August 14th. Rodman & Renshaw started coverage on Nkarta in a research note on Wednesday. They set a “buy” rating and a $14.00 price target on the stock. Finally, HC Wainwright cut their price target on Nkarta from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th.

Insider Transactions at Nkarta

In related news, insider Alicia J. Hager sold 3,396 shares of Nkarta stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $8.00, for a total transaction of $27,168.00. Following the completion of the sale, the insider now owns 103,819 shares of the company’s stock, valued at $830,552. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.70% of the company’s stock.

Institutional Trading of Nkarta

A number of institutional investors and hedge funds have recently made changes to their positions in NKTX. Wasatch Advisors LP increased its position in shares of Nkarta by 13.6% in the fourth quarter. Wasatch Advisors LP now owns 2,099,699 shares of the company’s stock valued at $13,858,000 after buying an additional 251,795 shares in the last quarter. Commodore Capital LP purchased a new stake in shares of Nkarta during the fourth quarter worth approximately $18,018,000. Boxer Capital LLC purchased a new stake in shares of Nkarta during the fourth quarter worth approximately $9,504,000. Sierra Summit Advisors LLC purchased a new stake in shares of Nkarta during the fourth quarter worth approximately $78,000. Finally, Leo Wealth LLC purchased a new stake in shares of Nkarta during the fourth quarter worth approximately $362,000. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

Nkarta Price Performance

Shares of NASDAQ NKTX traded up $0.12 during midday trading on Wednesday, reaching $4.02. 196,039 shares of the stock traded hands, compared to its average volume of 1,171,027. The stock has a market capitalization of $198.65 million, a PE ratio of -1.70 and a beta of 0.80. Nkarta has a one year low of $1.36 and a one year high of $16.24. The company’s 50 day moving average is $5.19 and its 200 day moving average is $6.40.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.15. As a group, equities analysts forecast that Nkarta will post -1.92 EPS for the current year.

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.