Nkarta (NASDAQ:NKTX) Upgraded by Raymond James to “Strong-Buy”

Raymond James upgraded shares of Nkarta (NASDAQ:NKTX) from an outperform rating to a strong-buy rating in a research note released on Wednesday morning, MarketBeat.com reports. The brokerage currently has $16.00 target price on the stock.

NKTX has been the subject of a number of other reports. HC Wainwright reiterated a buy rating and set a $23.00 price objective on shares of Nkarta in a research note on Wednesday, July 24th. Needham & Company LLC reiterated a buy rating and set a $13.00 price objective on shares of Nkarta in a research note on Friday, June 28th. Finally, Canaccord Genuity Group cut their price objective on Nkarta from $16.00 to $15.00 and set a buy rating for the company in a research note on Friday, May 10th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $18.20.

Nkarta Stock Performance

Shares of NASDAQ NKTX traded up $0.08 during midday trading on Wednesday, hitting $5.21. 264,536 shares of the company’s stock traded hands, compared to its average volume of 1,329,251. Nkarta has a 1 year low of $1.28 and a 1 year high of $16.24. The stock has a market capitalization of $257.46 million, a price-to-earnings ratio of -2.18 and a beta of 0.83. The firm has a fifty day moving average of $6.02 and a 200 day moving average of $8.14.

Insiders Place Their Bets

In other news, insider Alicia J. Hager sold 3,396 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $8.00, for a total transaction of $27,168.00. Following the completion of the transaction, the insider now directly owns 103,819 shares in the company, valued at approximately $830,552. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Nkarta

Several hedge funds and other institutional investors have recently bought and sold shares of NKTX. Meeder Asset Management Inc. purchased a new stake in Nkarta during the 2nd quarter valued at $26,000. GAMMA Investing LLC raised its holdings in Nkarta by 1,887.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock valued at $28,000 after buying an additional 4,491 shares during the period. Bleakley Financial Group LLC purchased a new stake in Nkarta during the 4th quarter valued at $70,000. Simplicity Solutions LLC purchased a new stake in Nkarta in the fourth quarter worth $70,000. Finally, SG Americas Securities LLC purchased a new stake in Nkarta in the fourth quarter worth $72,000. 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.