Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Rating of “Buy” from Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.86.

NKTX has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Nkarta in a research note on Thursday, March 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Nkarta in a research note on Thursday, March 27th.

Nkarta Price Performance

Shares of NKTX stock opened at $1.84 on Thursday. Nkarta has a one year low of $1.31 and a one year high of $11.84. The stock has a market cap of $130.56 million, a P/E ratio of -0.98 and a beta of 0.90. The stock has a fifty day moving average price of $1.98 and a 200 day moving average price of $2.79.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Wednesday, March 26th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. Equities research analysts anticipate that Nkarta will post -1.7 EPS for the current year.

Insider Buying and Selling

In other news, CEO Paul J. Hastings sold 17,378 shares of the firm’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 value of $38,231.60. Following the completion of the sale, the chief executive officer now directly owns 319,859 shares of the company’s stock, valued at $703,689.80. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nkarta

Several hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. acquired a new position in shares of Nkarta in the fourth quarter valued at approximately $30,000. Sequoia Financial Advisors LLC acquired a new position in shares of Nkarta during the fourth quarter worth $31,000. Erste Asset Management GmbH acquired a new position in shares of Nkarta in the third quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. bought a new position in Nkarta during the fourth quarter worth $37,000. Finally, ProShare Advisors LLC bought a new stake in Nkarta in the fourth quarter worth approximately $45,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

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.