Nkarta, Inc. (NASDAQ:NKTX) Director Acquires $20,000,000.00 in Stock

Nkarta, Inc. (NASDAQ:NKTX) Director Simeon George bought 2,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was bought at an average price of $10.00 per share, with a total value of $20,000,000.00. Following the completion of the acquisition, the director now owns 1,548,341 shares of the company’s stock, valued at approximately $15,483,410. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Nkarta Price Performance

Shares of NASDAQ NKTX opened at $10.81 on Friday. The company has a market capitalization of $534.23 million, a price-to-earnings ratio of -4.50 and a beta of 0.73. The business has a 50-day moving average of $10.98 and a two-hundred day moving average of $6.03. Nkarta, Inc. has a 1 year low of $1.28 and a 1 year high of $16.24.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Thursday, March 21st. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.05. As a group, equities research analysts expect that Nkarta, Inc. will post -2.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NKTX has been the subject of a number of recent research reports. HC Wainwright decreased their target price on Nkarta from $22.00 to $20.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Nkarta in a report on Friday, March 22nd. Mizuho decreased their target price on Nkarta from $31.00 to $25.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Raymond James reaffirmed an “outperform” rating and set a $16.00 price target (up from $13.00) on shares of Nkarta in a report on Friday, March 22nd. Finally, Canaccord Genuity Group lifted their price target on Nkarta from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nkarta has an average rating of “Buy” and an average target price of $17.83.

Institutional Trading of Nkarta

A number of hedge funds and other institutional investors have recently made changes to their positions in NKTX. Commodore Capital LP acquired a new stake in shares of Nkarta during the fourth quarter worth about $18,018,000. Price T Rowe Associates Inc. MD increased its position in shares of Nkarta by 64.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,879,662 shares of the company’s stock worth $47,797,000 after purchasing an additional 1,520,473 shares in the last quarter. Boxer Capital LLC acquired a new stake in shares of Nkarta during the fourth quarter worth about $9,504,000. Wasatch Advisors LP increased its position in shares of Nkarta by 43.1% during the first quarter. Wasatch Advisors LP now owns 3,913,676 shares of the company’s stock worth $13,894,000 after purchasing an additional 1,179,466 shares in the last quarter. Finally, State Street Corp increased its position in shares of Nkarta by 392.0% during the second quarter. State Street Corp now owns 1,359,615 shares of the company’s stock worth $16,750,000 after purchasing an additional 1,083,297 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

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.