Shares of Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $10.81, but opened at $11.59. Nkarta shares last traded at $11.37, with a volume of 248,995 shares trading hands.
Analysts Set New Price Targets
A number of brokerages have issued reports on NKTX. Raymond James reaffirmed an "outperform" rating and issued a $16.00 target price (up previously from $13.00) on shares of Nkarta in a report on Friday, March 22nd. HC Wainwright dropped their target price on Nkarta from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, March 22nd. Canaccord Genuity Group increased their price objective on shares of Nkarta from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Tuesday, March 26th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Nkarta in a report on Friday, March 22nd. Finally, Mizuho dropped their price objective on Nkarta from $31.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.83.
View Our Latest Analysis on NKTX
Nkarta Price Performance
The company's 50-day moving average price is $10.98 and its two-hundred day moving average price is $6.07. The company has a market capitalization of $534.68 million, a price-to-earnings ratio of -4.52 and a beta of 0.73.
Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.05. On average, equities research analysts expect that Nkarta, Inc. will post -2.34 EPS for the current fiscal year.
Insider Buying and Selling
In other Nkarta news, Director Simeon George bought 2,000,000 shares of Nkarta stock in a transaction dated Wednesday, March 27th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $20,000,000.00. Following the completion of the purchase, the director now directly owns 1,548,341 shares of the company's stock, valued at $15,483,410. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Paul J. Hastings sold 9,697 shares of Nkarta stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $8.74, for a total value of $84,751.78. Following the sale, the chief executive officer now owns 390,507 shares in the company, valued at $3,413,031.18. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Simeon George purchased 2,000,000 shares of Nkarta stock in a transaction that occurred on Wednesday, March 27th. The shares were bought at an average price of $10.00 per share, for a total transaction of $20,000,000.00. Following the transaction, the director now directly owns 1,548,341 shares of the company's stock, valued at $15,483,410. The disclosure for this purchase can be found here. Insiders have sold 17,392 shares of company stock worth $165,512 in the last quarter. Insiders own 5.60% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in NKTX. Commodore Capital LP purchased a new position in Nkarta in the 4th quarter worth approximately $18,018,000. Price T Rowe Associates Inc. MD increased its position in Nkarta by 64.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,879,662 shares of the company's stock worth $47,797,000 after buying an additional 1,520,473 shares in the last quarter. Boxer Capital LLC bought a new position in shares of Nkarta in the fourth quarter worth about $9,504,000. Wasatch Advisors LP lifted its position in shares of Nkarta by 43.1% during the 1st quarter. Wasatch Advisors LP now owns 3,913,676 shares of the company's stock valued at $13,894,000 after buying an additional 1,179,466 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Nkarta by 392.0% during the 2nd quarter. State Street Corp now owns 1,359,615 shares of the company's stock valued at $16,750,000 after acquiring an additional 1,083,297 shares during the period. Hedge funds and other institutional investors own 80.54% of the company's stock.
About Nkarta
(
Get Free Report)
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.
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