Franklin Resources Inc. Takes Position in Nkarta, Inc. (NASDAQ:NKTX)

Franklin Resources Inc. bought a new position in Nkarta, Inc. (NASDAQ:NKTX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 33,345 shares of the company’s stock, valued at approximately $151,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wasatch Advisors LP boosted its holdings in Nkarta by 31.7% in the third quarter. Wasatch Advisors LP now owns 1,834,680 shares of the company’s stock valued at $8,293,000 after purchasing an additional 442,125 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Nkarta by 11,164.3% in the second quarter. Acadian Asset Management LLC now owns 303,461 shares of the company’s stock worth $1,792,000 after buying an additional 300,767 shares during the last quarter. Marshall Wace LLP grew its holdings in Nkarta by 136.7% during the second quarter. Marshall Wace LLP now owns 439,973 shares of the company’s stock worth $2,600,000 after acquiring an additional 254,104 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Nkarta during the second quarter worth about $1,489,000. Finally, Affinity Asset Advisors LLC purchased a new position in Nkarta during the second quarter valued at approximately $1,182,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Rodman & Renshaw assumed coverage on shares of Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 price target on the stock. RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. Mizuho cut their price target on Nkarta from $20.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Needham & Company LLC reduced their price target on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, HC Wainwright dropped their price objective on Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $15.00.

Nkarta Stock Up 0.4 %

Shares of NASDAQ:NKTX opened at $2.50 on Friday. Nkarta, Inc. has a fifty-two week low of $2.08 and a fifty-two week high of $16.24. The firm’s 50 day moving average price is $2.74 and its 200 day moving average price is $4.45. The stock has a market cap of $176.42 million, a price-to-earnings ratio of -1.33 and a beta of 0.82.

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.