6,300,212 Shares in Nkarta, Inc. $NKTX Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 6.3 million Nkarta shares valued at approximately $17.83 million, giving it an 8.81% stake. Institutional investors collectively own 80.54% of NKTX.
• Nkarta shares opened at $2.79, with the stock trading between a one-year low of $1.70 and high of $3.72. The company reported a quarterly loss of $0.54 per share, missing analyst estimates by $0.18.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $11.20, despite some target reductions and one sell rating.

BlackRock Inc. bought a new stake in Nkarta, Inc. (NASDAQ:NKTX - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,300,212 shares of the company's stock, valued at approximately $17,830,000. BlackRock Inc. owned 8.81% of Nkarta as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of NKTX. GSK plc acquired a new position in shares of Nkarta in the 4th quarter valued at about $5,829,000. Monaco Asset Management SAM acquired a new position in shares of Nkarta during the second quarter worth about $6,717,000. Jane Street Group LLC boosted its position in shares of Nkarta by 118.7% in the first quarter. Jane Street Group LLC now owns 134,286 shares of the company's stock worth $247,000 after buying an additional 852,559 shares during the period. Millennium Management LLC purchased a new stake in shares of Nkarta in the third quarter worth about $1,549,000. Finally, Renaissance Technologies LLC grew its stake in shares of Nkarta by 48.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,702,022 shares of the company's stock valued at $3,149,000 after buying an additional 556,945 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company's stock.

Nkarta Stock Performance

Shares of NKTX opened at $2.79 on Friday. The firm has a fifty day moving average of $2.61 and a 200-day moving average of $2.63. The company has a market cap of $199.82 million, a price-to-earnings ratio of -1.78 and a beta of 0.97. Nkarta, Inc. has a 1 year low of $1.70 and a 1 year high of $3.72.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.18). Analysts predict that Nkarta, Inc. will post -1.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NKTX shares. TD Cowen assumed coverage on Nkarta in a research report on Tuesday, June 23rd. They set a "buy" rating on the stock. HC Wainwright lowered their price objective on shares of Nkarta to $14.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 price objective on shares of Nkarta in a research note on Wednesday, May 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nkarta in a research report on Wednesday, June 24th. Finally, Stifel Nicolaus lowered their target price on Nkarta from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $11.20.

Nkarta Company Profile

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company's platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta's lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.

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