Traders Purchase High Volume of Put Options on Nkarta (NASDAQ:NKTX)

Nkarta, Inc. (NASDAQ:NKTX) was the recipient of some unusual options trading on Tuesday. Stock investors purchased 4,525 put options on the stock. This represents an increase of 2,359% compared to the typical daily volume of 184 put options.

Analysts Set New Price Targets

Several research firms have recently weighed in on NKTX. Raymond James upgraded shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Wednesday, August 14th. Needham & Company LLC reduced their price objective on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 8th. RODMAN&RENSHAW upgraded Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th. Mizuho cut their price target on Nkarta from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st. Finally, Rodman & Renshaw initiated coverage on Nkarta in a research note on Wednesday, October 9th. They set a “buy” rating and a $14.00 price objective on the stock. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Nkarta has a consensus rating of “Buy” and an average price target of $15.00.

Nkarta Price Performance

NASDAQ NKTX opened at $2.49 on Wednesday. The company’s 50 day simple moving average is $3.30 and its two-hundred day simple moving average is $4.93. The stock has a market capitalization of $175.72 million, a PE ratio of -1.28 and a beta of 0.82. Nkarta has a 1 year low of $2.35 and a 1 year high of $16.24.

Institutional Investors Weigh In On Nkarta

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new position in Nkarta in the 2nd quarter worth approximately $26,000. GAMMA Investing LLC lifted its holdings in shares of Nkarta by 1,887.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after acquiring an additional 4,491 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Nkarta in the third quarter worth $33,000. Forefront Analytics LLC purchased a new position in Nkarta in the second quarter worth $70,000. Finally, Intech Investment Management LLC bought a new position in Nkarta in the third quarter valued at $74,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

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.