Nkarta, Inc. (NASDAQ:NKTX) Given Average Recommendation of “Buy” by Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given a consensus rating of “Buy” by the eight analysts that are presently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $14.86.

NKTX has been the subject of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Nkarta in a research report on Thursday. Stifel Nicolaus cut their price objective on shares of Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 target price on shares of Nkarta in a research report on Thursday.

Insiders Place Their Bets

In other news, CEO Paul J. Hastings sold 17,378 shares of the company’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 transaction of $38,231.60. Following the completion of the sale, the chief executive officer now owns 319,859 shares in the company, valued at $703,689.80. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.70% of the stock is currently owned by insiders.

Institutional Trading of Nkarta

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invesco Ltd. acquired a new position in shares of Nkarta in the fourth quarter worth $30,000. Sequoia Financial Advisors LLC acquired a new position in Nkarta in the 4th quarter valued at about $31,000. Erste Asset Management GmbH acquired a new position in Nkarta in the 3rd quarter valued at about $33,000. China Universal Asset Management Co. Ltd. purchased a new position in Nkarta in the 4th quarter valued at about $37,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Nkarta during the 4th quarter worth about $45,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Trading Up 49.8 %

Shares of NASDAQ NKTX traded up $0.68 during trading hours on Thursday, reaching $2.05. The stock had a trading volume of 3,212,579 shares, compared to its average volume of 1,000,786. The business’s fifty day moving average price is $2.01 and its two-hundred day moving average price is $2.90. The firm has a market cap of $144.81 million, a price-to-earnings ratio of -1.12 and a beta of 0.90. Nkarta has a 52-week low of $1.31 and a 52-week high of $11.84.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. Equities research analysts anticipate that Nkarta will post -1.7 earnings per share for the current fiscal 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.