Nkarta’s (NKTX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Nkarta (NASDAQ:NKTX) in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a $11.00 price objective on the stock.

Nkarta Price Performance

Shares of NKTX stock opened at $2.00 on Thursday. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $11.84. The stock’s 50-day moving average is $1.99 and its two-hundred day moving average is $2.84. The firm has a market cap of $141.92 million, a P/E ratio of -1.06 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. As a group, research analysts expect that Nkarta will post -1.7 EPS for the current year.

Insider Activity

In other Nkarta news, CEO Paul J. Hastings sold 17,378 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total transaction of $38,231.60. Following the transaction, the chief executive officer now directly owns 319,859 shares of the company’s stock, valued at $703,689.80. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in Nkarta by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 31,056 shares of the company’s stock worth $77,000 after purchasing an additional 6,763 shares during the period. Catalina Capital Group LLC boosted its holdings in shares of Nkarta by 57.5% during the 4th quarter. Catalina Capital Group LLC now owns 18,818 shares of the company’s stock worth $47,000 after buying an additional 6,867 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Nkarta by 41.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,958 shares of the company’s stock valued at $60,000 after buying an additional 7,030 shares during the last quarter. Erste Asset Management GmbH bought a new position in Nkarta in the 3rd quarter worth $33,000. Finally, American Century Companies Inc. lifted its position in Nkarta by 8.8% during the 4th quarter. American Century Companies Inc. now owns 90,952 shares of the company’s stock worth $226,000 after acquiring an additional 7,378 shares during the last quarter. Institutional investors and hedge funds 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.