Nkarta's (NKTX) "Buy" Rating Reaffirmed at Needham & Company LLC

Nkarta (NASDAQ:NKTX - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $11.00 price target on the stock.

A number of other research firms have also commented on NKTX. HC Wainwright reaffirmed a "buy" rating and issued a $18.00 price objective on shares of Nkarta in a research note on Thursday, March 27th. Stifel Nicolaus lowered their target price on shares of Nkarta from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $14.86.

Nkarta Price Performance

NASDAQ NKTX traded up $0.06 during trading hours on Wednesday, reaching $1.63. The company's stock had a trading volume of 191,729 shares, compared to its average volume of 1,094,649. The firm has a fifty day simple moving average of $1.81 and a 200-day simple moving average of $2.53. Nkarta has a 52 week low of $1.31 and a 52 week high of $9.09. The stock has a market cap of $115.66 million, a P/E ratio of -0.87 and a beta of 0.83.

Nkarta (NASDAQ:NKTX - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. On average, research analysts expect that Nkarta will post -1.7 earnings per share for the current year.

Insider Activity at Nkarta

In other Nkarta news, CEO Paul J. Hastings sold 17,378 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total value of $38,231.60. Following the completion of the sale, the chief executive officer now owns 319,859 shares of the company's stock, valued at approximately $703,689.80. This trade represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Nkarta

Several hedge funds have recently bought and sold shares of NKTX. Invesco Ltd. bought a new stake in Nkarta during the 4th quarter worth approximately $30,000. Sequoia Financial Advisors LLC bought a new stake in Nkarta during the fourth quarter worth $31,000. China Universal Asset Management Co. Ltd. bought a new position in Nkarta during the 4th quarter valued at $37,000. ProShare Advisors LLC bought a new position in Nkarta during the 4th quarter valued at $45,000. Finally, Catalina Capital Group LLC grew its stake in shares of Nkarta by 57.5% in the 4th quarter. Catalina Capital Group LLC now owns 18,818 shares of the company's stock worth $47,000 after acquiring an additional 6,867 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company's stock.

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.