Nuveen LLC Invests $258,000 in Nkarta, Inc. $NKTX

Key Points

• Nuveen LLC has invested approximately $258,000 in Nkarta, Inc., acquiring 140,113 shares, which constitutes around 0.20% of the company as per their recent SEC filing.
• Other institutional investors, including Invesco Ltd. and Deutsche Bank AG, have significantly increased their stakes in Nkarta, highlighting growing interest from hedge funds.
• Nkarte's stock recently saw a 6.1% increase, trading at $2.26, while analysts have mixed ratings for the stock with an average target price of $13.60.

Nuveen LLC purchased a new position in shares of Nkarta, Inc. (NASDAQ:NKTX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 140,113 shares of the company's stock, valued at approximately $258,000. Nuveen LLC owned approximately 0.20% of Nkarta as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Jefferies Financial Group Inc. grew its stake in shares of Nkarta by 901.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company's stock worth $6,236,000 after acquiring an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC grew its stake in shares of Nkarta by 252.9% in the fourth quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company's stock valued at $5,711,000 after buying an additional 1,643,719 shares in the last quarter. Monaco Asset Management SAM bought a new position in shares of Nkarta in the first quarter valued at $1,496,000. Millennium Management LLC grew its stake in shares of Nkarta by 98.8% in the fourth quarter. Millennium Management LLC now owns 600,142 shares of the company's stock valued at $1,494,000 after buying an additional 298,317 shares in the last quarter. Finally, Peapod Lane Capital LLC bought a new position in shares of Nkarta in the first quarter valued at $1,101,000. 80.54% of the stock is owned by institutional investors.

Nkarta Price Performance

Nkarta stock traded up $0.05 during mid-day trading on Thursday, hitting $2.07. 434,867 shares of the company's stock traded hands, compared to its average volume of 519,128. The firm has a 50 day simple moving average of $2.08 and a two-hundred day simple moving average of $1.89. Nkarta, Inc. has a fifty-two week low of $1.31 and a fifty-two week high of $6.49. The stock has a market cap of $147.03 million, a price-to-earnings ratio of -1.40 and a beta of 0.76.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.06. On average, research analysts anticipate that Nkarta, Inc. will post -1.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NKTX has been the subject of several analyst reports. William Blair reissued a "market perform" rating on shares of Nkarta in a research note on Thursday, May 15th. Wall Street Zen raised shares of Nkarta from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 target price on shares of Nkarta in a research note on Wednesday, August 13th. 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. Finally, Stifel Nicolaus decreased their target price on shares of Nkarta from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Nkarta currently has an average rating of "Buy" and a consensus price target of $13.60.

Nkarta Company 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.