Nkarta, Inc. (NASDAQ:NKTX) Sees Significant Decrease in Short Interest

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 7,850,000 shares, a decrease of 16.5% from the March 15th total of 9,400,000 shares. Currently, 12.2% of the shares of the company are short sold. Based on an average daily volume of 1,480,000 shares, the days-to-cover ratio is currently 5.3 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in shares of Nkarta by 138.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company's stock worth $6,319,000 after purchasing an additional 1,474,560 shares during the period. Wasatch Advisors LP grew its position in Nkarta by 37.4% during the fourth quarter. Wasatch Advisors LP now owns 2,520,909 shares of the company's stock worth $6,277,000 after buying an additional 686,229 shares during the period. Jefferies Financial Group Inc. increased its holdings in Nkarta by 901.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company's stock valued at $6,236,000 after buying an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC lifted its position in shares of Nkarta by 252.9% during the 4th quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company's stock valued at $5,711,000 after acquiring an additional 1,643,719 shares during the period. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Nkarta by 23.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,334,696 shares of the company's stock worth $3,323,000 after acquiring an additional 250,000 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company's stock.

Nkarta Stock Down 4.1 %

NASDAQ NKTX traded down $0.09 during trading hours on Friday, hitting $2.11. 455,993 shares of the stock were exchanged, compared to its average volume of 1,094,048. The company has a market cap of $149.72 million, a price-to-earnings ratio of -1.12 and a beta of 0.83. Nkarta has a 12-month low of $1.31 and a 12-month high of $8.33. The stock has a 50-day moving average of $1.76 and a 200 day moving average of $2.41.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NKTX shares. Stifel Nicolaus lowered their price objective on shares of Nkarta from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Needham & Company LLC reiterated a "buy" rating and set a $11.00 target price on shares of Nkarta in a research note on Wednesday, April 9th. Finally, HC Wainwright restated a "buy" rating and issued a $18.00 price target on shares of Nkarta in a research report on Thursday, March 27th. Six 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 stock currently has a consensus rating of "Buy" and an average target price of $14.86.

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.