Nkarta (NASDAQ:NKTX) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Nkarta (NASDAQ:NKTX) in a research report released on Thursday morning,Benzinga reports. HC Wainwright currently has a $18.00 target price on the stock.

Separately, Needham & Company LLC reissued a “buy” rating and issued a $11.00 target price on shares of Nkarta in a report on Thursday. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $14.86.

Nkarta Stock Performance

NKTX opened at $1.97 on Thursday. The stock has a market capitalization of $139.02 million, a price-to-earnings ratio of -1.05 and a beta of 0.90. The company has a fifty day moving average of $2.00 and a 200 day moving average of $2.89. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $11.84.

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

Insider Activity at Nkarta

In other Nkarta news, CEO Paul J. Hastings sold 17,378 shares of the business’s 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 owns 319,859 shares in the company, valued at $703,689.80. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nkarta

A number of large investors have recently made changes to their positions in NKTX. Invesco Ltd. purchased a new stake in Nkarta in the 4th quarter worth about $30,000. Sequoia Financial Advisors LLC bought a new position in shares of Nkarta during the fourth quarter valued at approximately $31,000. Erste Asset Management GmbH purchased a new stake in shares of Nkarta in the third quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of Nkarta during the 4th quarter worth approximately $37,000. Finally, ProShare Advisors LLC purchased a new position in Nkarta during the 4th quarter valued at $45,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

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.