Nkarta, Inc. (NASDAQ:NKTX) Given Average Rating of "Buy" by Analysts

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) has been given an average rating of "Buy" by the eight ratings firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $14.86.

A number of research firms have commented on NKTX. Needham & Company LLC reiterated a "buy" rating and issued a $11.00 price target on shares of Nkarta in a research report on Thursday. HC Wainwright reissued a "buy" rating and set a $18.00 target price on shares of Nkarta in a research report on Thursday. Finally, Stifel Nicolaus dropped their price target on shares of Nkarta from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday.

Insider Activity

In other Nkarta news, CEO Paul J. Hastings sold 17,378 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were 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 directly owns 319,859 shares in the company, valued at approximately $703,689.80. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nkarta

Institutional investors have recently made changes to their positions in the stock. Erste Asset Management GmbH bought a new stake in Nkarta in the 3rd quarter valued at about $33,000. Invesco Ltd. bought a new position in Nkarta in the fourth quarter worth approximately $30,000. Sequoia Financial Advisors LLC acquired a new stake in Nkarta in the fourth quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Nkarta during the fourth quarter valued at approximately $37,000. Finally, Intech Investment Management LLC acquired a new position in shares of Nkarta during the third quarter worth approximately $74,000. Institutional investors and hedge funds own 80.54% of the company's stock.

Nkarta Stock Performance

Shares of NASDAQ:NKTX traded down $0.15 during midday trading on Thursday, hitting $1.86. 1,063,406 shares of the stock were exchanged, compared to its average volume of 1,092,897. The business's 50-day moving average price is $1.99 and its 200 day moving average price is $2.82. Nkarta has a 12 month low of $1.31 and a 12 month high of $11.84. The stock has a market capitalization of $131.63 million, a price-to-earnings ratio of -0.99 and a beta of 0.90.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. As a group, sell-side analysts expect that Nkarta will post -1.7 EPS for the current year.

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.