JPMorgan Chase & Co. Purchases 761,349 Shares of Nkarta, Inc. (NASDAQ:NKTX)

JPMorgan Chase & Co. raised its position in Nkarta, Inc. (NASDAQ:NKTX - Free Report) by 252.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,063,362 shares of the company's stock after purchasing an additional 761,349 shares during the quarter. JPMorgan Chase & Co. owned 1.51% of Nkarta worth $4,806,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Erste Asset Management GmbH purchased a new position in shares of Nkarta in the 3rd quarter worth about $33,000. GAMMA Investing LLC raised its holdings in shares of Nkarta by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 9,972 shares of the company's stock valued at $45,000 after buying an additional 5,243 shares during the period. Forefront Analytics LLC purchased a new stake in shares of Nkarta during the 2nd quarter valued at about $70,000. Intech Investment Management LLC purchased a new stake in shares of Nkarta during the 3rd quarter valued at about $74,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Nkarta during the 3rd quarter valued at about $93,000. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on NKTX. Rodman & Renshaw initiated coverage on Nkarta in a report on Wednesday, October 9th. They set a "buy" rating and a $14.00 price objective on the stock. HC Wainwright reduced their price objective on Nkarta from $22.00 to $18.00 and set a "buy" rating for the company in a research report on Monday, November 11th. RODMAN&RENSHAW upgraded Nkarta to a "strong-buy" rating in a research report on Wednesday, October 9th. Needham & Company LLC cut their target price on Nkarta from $13.00 to $11.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Finally, Mizuho dropped their price objective on Nkarta from $20.00 to $16.00 and set an "outperform" rating on the stock in a research note on Thursday, November 21st. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $15.00.

Insiders Place Their Bets

In other Nkarta news, CEO Paul J. Hastings sold 17,378 shares of Nkarta stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total transaction of $38,231.60. Following the transaction, the chief executive officer now directly owns 319,859 shares in the company, valued at approximately $703,689.80. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 8.70% of the company's stock.

Nkarta Stock Performance

NKTX traded down $0.02 during mid-day trading on Friday, reaching $2.47. The stock had a trading volume of 1,770,362 shares, compared to its average volume of 1,385,952. The stock has a market capitalization of $174.31 million, a P/E ratio of -1.31 and a beta of 0.85. The firm's fifty day simple moving average is $2.52 and its two-hundred day simple moving average is $4.18. Nkarta, Inc. has a 52 week low of $2.08 and a 52 week high of $16.24.

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.