Nkarta (NASDAQ:NKTX) Coverage Initiated by Analysts at Rodman & Renshaw

Equities research analysts at Rodman & Renshaw began coverage on shares of Nkarta (NASDAQ:NKTX) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “buy” rating and a $14.00 price target on the stock. Rodman & Renshaw’s target price points to a potential upside of 277.36% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. HC Wainwright decreased their price objective on Nkarta from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Nkarta in a report on Wednesday, August 14th. Finally, Raymond James raised Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $17.50.

Nkarta Trading Down 5.8 %

Shares of Nkarta stock opened at $3.71 on Wednesday. Nkarta has a 52 week low of $1.45 and a 52 week high of $16.24. The firm’s 50 day moving average is $5.08 and its two-hundred day moving average is $6.36.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.15. On average, sell-side analysts anticipate that Nkarta will post -1.92 EPS for the current year.

Insider Buying and Selling

In related news, insider Alicia J. Hager sold 3,396 shares of the stock in a transaction 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 sale, the insider now directly owns 103,819 shares of the company’s stock, valued at $830,552. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Nkarta

Hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. acquired a new stake in Nkarta in the second quarter valued at $26,000. GAMMA Investing LLC increased its position in shares of Nkarta by 1,887.0% in the second 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 in the last quarter. Forefront Analytics LLC purchased a new position in shares of Nkarta in the second quarter valued at $70,000. Sierra Summit Advisors LLC purchased a new position in shares of Nkarta in the fourth quarter valued at $78,000. Finally, SG Americas Securities LLC purchased a new position in shares of Nkarta in the third quarter valued at $93,000. 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.