Monaco Asset Management SAM Makes New $1.50 Million Investment in Nkarta, Inc. (NASDAQ:NKTX)

Key Points

• Monaco Asset Management SAM invested approximately $1.50 million in Nkarta, Inc., acquiring about 813,116 shares in the first quarter, increasing its stake to 1.15% of the company.
• A number of institutional investors, including CWM LLC and Cerity Partners LLC, have also increased their positions in Nkarta, contributing to a total of 80.54% of the company's stock being owned by institutional investors.
• Nikarta's stock closed at $2.06 with a market cap of $146.18 million and a projected -1.7 EPS for the current year, while analysts maintain an average rating of "Buy" and a target price of $14.33.

Monaco Asset Management SAM acquired a new stake in Nkarta, Inc. (NASDAQ:NKTX - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 813,116 shares of the company's stock, valued at approximately $1,496,000. Monaco Asset Management SAM owned approximately 1.15% of Nkarta at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NKTX. Thrivent Financial for Lutherans bought a new position in Nkarta in the 4th quarter valued at approximately $258,000. American Century Companies Inc. raised its stake 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 during the last quarter. Sei Investments Co. purchased a new stake in Nkarta during the 4th quarter valued at $57,000. JPMorgan Chase & Co. raised its stake in Nkarta by 138.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company's stock valued at $6,319,000 after buying an additional 1,474,560 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake 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 during the last quarter. 80.54% of the stock is owned by institutional investors.

Nkarta Trading Down 2.3%

Nkarta stock traded down $0.05 during trading on Friday, reaching $2.12. The company had a trading volume of 472,909 shares, compared to its average volume of 567,093. Nkarta, Inc. has a 52 week low of $1.31 and a 52 week high of $6.63. The firm's 50-day simple moving average is $1.87 and its 200 day simple moving average is $1.91. The firm has a market capitalization of $150.44 million, a price-to-earnings ratio of -1.40 and a beta of 0.72.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.43) EPS for the quarter, topping analysts' consensus estimates of ($0.44) by $0.01. On average, analysts predict that Nkarta, Inc. will post -1.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NKTX has been the subject of a number of research reports. William Blair reiterated a "market perform" rating on shares of Nkarta in a research note on Thursday, May 15th. Needham & Company LLC decreased their target price on shares of Nkarta from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Finally, Mizuho decreased their target price on shares of Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Tuesday, June 10th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $14.33.

Nkarta 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.