AWM Investment Company Inc. Takes Position in Nkarta, Inc. $NKTX

Key Points

• AWM Investment Company Inc. acquired 906,000 Nkarta shares worth approximately $2.56 million, representing 1.27% of the company. Institutional investors collectively own 80.54% of NKTX.
• Nkarta shares recently traded at $2.71, up 4.6%, but the clinical-stage biotech reported a quarterly loss of $0.54 per share, missing analyst expectations by $0.18.
• Analyst sentiment is broadly positive, with an average rating of “Moderate Buy” and an average price target of $11.20, although some firms maintain sell or strong-sell ratings.

AWM Investment Company Inc. purchased a new position in shares of Nkarta, Inc. (NASDAQ:NKTX - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 906,000 shares of the company's stock, valued at approximately $2,564,000. AWM Investment Company Inc. owned 1.27% of Nkarta as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NKTX. Abel Hall LLC purchased a new stake in Nkarta in the 4th quarter valued at about $27,000. The Manufacturers Life Insurance Company acquired a new position in Nkarta during the first quarter worth approximately $30,000. Pallas Capital Advisors LLC acquired a new position in Nkarta during the second quarter worth approximately $31,000. Dynamic Technology Lab Private Ltd purchased a new position in Nkarta during the fourth quarter worth approximately $37,000. Finally, Canada Pension Plan Investment Board purchased a new position in Nkarta during the second quarter worth approximately $81,000. Institutional investors and hedge funds own 80.54% of the company's stock.

Nkarta Trading Up 4.6%

NKTX opened at $2.71 on Wednesday. The company has a fifty day simple moving average of $2.63 and a 200 day simple moving average of $2.59. The firm has a market cap of $194.09 million, a price-to-earnings ratio of -1.73 and a beta of 0.93. Nkarta, Inc. has a twelve month low of $1.70 and a twelve month high of $3.72.

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

Analysts Set New Price Targets

A number of analysts have recently commented on NKTX shares. TD Cowen assumed coverage on Nkarta in a report on Tuesday, June 23rd. They set a "buy" rating for the company. Wall Street Zen cut Nkarta from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 target price on shares of Nkarta in a report on Wednesday, May 13th. Evercore set a $9.00 price target on Nkarta in a research report on Monday, May 18th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Nkarta in a research note on Wednesday, June 24th. 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $11.20.

About Nkarta

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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