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

Nkarta, Inc. (NASDAQ:NKTX) has been assigned an average recommendation of “Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $14.86.

Several research analysts recently commented on NKTX shares. Stifel Nicolaus cut their price target on Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. Needham & Company LLC restated a “buy” rating and issued a $11.00 target price on shares of Nkarta in a report on Thursday. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Nkarta in a report on Thursday.

Nkarta Stock Performance

Nkarta stock traded up $0.68 during midday trading on Thursday, reaching $2.05. The stock had a trading volume of 3,212,579 shares, compared to its average volume of 1,000,786. The stock’s 50-day simple moving average is $2.01 and its 200 day simple moving average is $2.90. Nkarta has a twelve month low of $1.31 and a twelve month high of $11.84. The stock has a market capitalization of $144.81 million, a PE ratio of -1.12 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. Equities analysts predict that Nkarta will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling at Nkarta

In related news, CEO Paul J. Hastings sold 17,378 shares of Nkarta stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total transaction of $38,231.60. Following the completion of the sale, the chief executive officer now directly owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NKTX. Erste Asset Management GmbH acquired a new position in shares of Nkarta during the 3rd quarter worth $33,000. Invesco Ltd. bought a new position in Nkarta in the fourth quarter valued at about $30,000. Sequoia Financial Advisors LLC acquired a new position in Nkarta during the fourth quarter worth about $31,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Nkarta in the fourth quarter worth about $37,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Nkarta in the 3rd quarter valued at approximately $74,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.