Nkarta’s (NKTX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Nkarta (NASDAQ:NKTX) in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has a $23.00 price objective on the stock.

Several other equities analysts have also issued reports on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $13.00 price target on shares of Nkarta in a report on Friday, June 28th. Canaccord Genuity Group cut their price target on shares of Nkarta from $16.00 to $15.00 and set a buy rating on the stock in a report on Friday, May 10th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nkarta currently has a consensus rating of Buy and a consensus target price of $17.83.

Nkarta Stock Performance

NASDAQ NKTX opened at $7.04 on Wednesday. The company has a market cap of $347.92 million, a PE ratio of -3.00 and a beta of 0.83. The firm’s 50 day moving average price is $6.27 and its 200-day moving average price is $8.41. Nkarta has a 52-week low of $1.28 and a 52-week high of $16.24.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings data 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). On average, analysts forecast that Nkarta will post -2.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Alicia J. Hager sold 3,396 shares of Nkarta stock in a transaction on Tuesday, July 16th. The shares were 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 directly owns 103,819 shares in the company, valued at $830,552. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Nkarta

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Nkarta by 22.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,226 shares of the company’s stock worth $94,000 after buying an additional 2,613 shares during the period. GAMMA Investing LLC lifted its stake in shares of 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 period. Bourgeon Capital Management LLC acquired a new stake in shares of Nkarta during the fourth quarter worth $30,000. Bleakley Financial Group LLC lifted its stake in shares of Nkarta by 49.2% during the first quarter. Bleakley Financial Group LLC now owns 15,827 shares of the company’s stock worth $171,000 after buying an additional 5,219 shares during the period. Finally, Simplicity Solutions LLC acquired a new stake in shares of Nkarta during the fourth quarter worth $70,000. 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.