Nkarta, Inc. (NASDAQ:NKTX) Stake Cut by Orbimed Advisors LLC

Orbimed Advisors LLC reduced its stake in shares of Nkarta, Inc. (NASDAQ:NKTX - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 821,400 shares of the company's stock after selling 659,200 shares during the quarter. Orbimed Advisors LLC owned about 1.16% of Nkarta worth $2,045,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. bought a new position in shares of Nkarta in the fourth quarter worth $30,000. Sequoia Financial Advisors LLC bought a new position in shares of Nkarta in the fourth quarter worth $31,000. China Universal Asset Management Co. Ltd. bought a new position in shares of Nkarta in the fourth quarter worth $37,000. Catalina Capital Group LLC grew its stake in shares of Nkarta by 57.5% in the fourth quarter. Catalina Capital Group LLC now owns 18,818 shares of the company's stock worth $47,000 after purchasing an additional 6,867 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of Nkarta in the fourth quarter worth $57,000. 80.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Stifel Nicolaus decreased their price target on Nkarta from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. William Blair reissued a "market perform" rating on shares of Nkarta in a research note on Thursday. Needham & Company LLC decreased their price target on Nkarta from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday. Finally, HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Nkarta in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Nkarta currently has an average rating of "Buy" and an average target price of $14.67.

Nkarta Trading Up 1.2%

NKTX stock traded up $0.02 during trading hours on Friday, hitting $1.74. 591,174 shares of the stock traded hands, compared to its average volume of 1,068,217. The stock has a 50-day simple moving average of $1.79 and a 200 day simple moving average of $2.20. Nkarta, Inc. has a one year low of $1.31 and a one year high of $8.23. The company has a market cap of $123.47 million, a P/E ratio of -0.93 and a beta of 0.81.

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

About Nkarta

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.