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

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

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

Nkarta Stock Performance

Nkarta stock opened at $2.09 on Tuesday. The stock has a market cap of $147.49 million, a PE ratio of -1.11 and a beta of 0.85. The stock has a fifty day moving average of $2.41 and a 200 day moving average of $3.75. Nkarta has a one year low of $2.06 and a one year high of $16.24.

Insiders Place Their Bets

In other Nkarta news, CEO Paul J. Hastings sold 17,378 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total value of $38,231.60. Following the completion of the transaction, the chief executive officer now owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nkarta

A number of institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake in shares of Nkarta by 36.9% during the second quarter. Dimensional Fund Advisors LP now owns 132,306 shares of the company’s stock worth $782,000 after purchasing an additional 35,643 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Nkarta by 92.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,710 shares of the company’s stock worth $122,000 after buying an additional 9,975 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Nkarta during the 3rd quarter worth approximately $93,000. GAMMA Investing LLC raised its holdings in shares of Nkarta by 110.9% during the third quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock valued at $45,000 after acquiring an additional 5,243 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Nkarta in the third quarter valued at approximately $74,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.