Nkarta (NASDAQ:NKTX) Reaches New 12-Month High Following Analyst Upgrade

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $9.00 to $31.00. Mizuho currently has a buy rating on the stock. Nkarta traded as high as $14.28 and last traded at $14.21, with a volume of 122638 shares trading hands. The stock had previously closed at $13.22.

A number of other analysts have also recently weighed in on NKTX. HC Wainwright raised their price target on Nkarta from $10.00 to $22.00 and gave the company a "buy" rating in a research note on Tuesday, January 16th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Nkarta in a research report on Tuesday, December 12th.

Insider Buying and Selling

In other Nkarta news, insider James Trager sold 4,143 shares of Nkarta stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $49,716.00. Following the sale, the insider now owns 149,415 shares of the company's stock, valued at approximately $1,792,980. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Paul J. Hastings sold 9,697 shares of the business's stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $8.74, for a total transaction of $84,751.78. Following the transaction, the chief executive officer now directly owns 390,507 shares of the company's stock, valued at approximately $3,413,031.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Trager sold 4,143 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $49,716.00. Following the transaction, the insider now directly owns 149,415 shares in the company, valued at $1,792,980. The disclosure for this sale can be found here. Insiders have sold a total of 17,392 shares of company stock valued at $165,512 over the last quarter. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nkarta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Innovis Asset Management LLC acquired a new position in Nkarta during the 3rd quarter worth approximately $193,000. Acadian Asset Management LLC purchased a new stake in Nkarta during the 3rd quarter worth approximately $89,000. Wasatch Advisors LP increased its holdings in Nkarta by 20.4% during the 2nd quarter. Wasatch Advisors LP now owns 4,713,837 shares of the company's stock worth $10,323,000 after purchasing an additional 800,161 shares during the last quarter. Forefront Analytics LLC increased its holdings in Nkarta by 282.5% during the 3rd quarter. Forefront Analytics LLC now owns 39,657 shares of the company's stock worth $55,000 after purchasing an additional 29,290 shares during the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in Nkarta during the 3rd quarter worth approximately $327,000. 80.54% of the stock is owned by institutional investors and hedge funds.

Nkarta Stock Performance

The firm has a fifty day simple moving average of $9.39 and a 200-day simple moving average of $4.74. The company has a market capitalization of $724.27 million, a PE ratio of -5.62 and a beta of 0.73.

About Nkarta

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cell therapies for cancer treatment. The company's approach for cellular immunotherapy involves chimeric antigen receptors on the surface of a lymphocyte that enable the cell to recognize specific proteins or antigens that are present on the surface of tumor cells.

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