Bank of America Corp DE Grows Position in Nkarta, Inc. (NASDAQ:NKTX)

Bank of America Corp DE raised its stake in shares of Nkarta, Inc. (NASDAQ:NKTX - Free Report) by 110.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 380,444 shares of the company's stock after buying an additional 199,345 shares during the quarter. Bank of America Corp DE owned about 0.54% of Nkarta worth $947,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in Nkarta by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 31,056 shares of the company's stock valued at $77,000 after buying an additional 6,763 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Nkarta by 41.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,958 shares of the company's stock valued at $60,000 after buying an additional 7,030 shares in the last quarter. American Century Companies Inc. grew its holdings in Nkarta by 8.8% during the 4th quarter. American Century Companies Inc. now owns 90,952 shares of the company's stock valued at $226,000 after buying an additional 7,378 shares in the last quarter. Wellington Management Group LLP grew its holdings in Nkarta by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 225,224 shares of the company's stock valued at $561,000 after buying an additional 8,883 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Nkarta by 11.5% during the 4th quarter. Stifel Financial Corp now owns 90,811 shares of the company's stock valued at $226,000 after buying an additional 9,359 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company's stock.

Analysts Set New Price Targets

NKTX has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price target on Nkarta from $15.00 to $14.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Needham & Company LLC dropped their target price on Nkarta from $11.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, May 15th. HC Wainwright restated a "buy" rating and issued a $18.00 target price on shares of Nkarta in a research report on Thursday, March 27th. Mizuho dropped their target price on Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, William Blair restated a "market perform" rating on shares of Nkarta in a research report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.33.

Nkarta Stock Up 0.5%

Shares of NKTX traded up $0.01 during mid-day trading on Wednesday, hitting $2.00. 414,665 shares of the company's stock traded hands, compared to its average volume of 1,062,683. Nkarta, Inc. has a 1 year low of $1.31 and a 1 year high of $8.23. The firm has a market capitalization of $141.92 million, a P/E ratio of -1.06 and a beta of 0.72. The business's 50-day moving average price is $1.84 and its 200-day moving average price is $2.07.

Nkarta (NASDAQ:NKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.01. Sell-side analysts anticipate that Nkarta, Inc. will post -1.7 earnings per share for the current fiscal year.

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.