Denali Advisors LLC Makes New Investment in Nkarta, Inc. (NASDAQ:NKTX)

Denali Advisors LLC acquired a new position in Nkarta, Inc. (NASDAQ:NKTX) during the first quarter, according to its most recent filing with the SEC. The firm acquired 26,500 shares of the company’s stock, valued at approximately $286,000. Denali Advisors LLC owned about 0.05% of Nkarta as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in NKTX. Leo Wealth LLC purchased a new position in Nkarta during the 4th quarter valued at $362,000. Sierra Summit Advisors LLC bought a new position in Nkarta in the fourth quarter worth about $78,000. Boxer Capital LLC purchased a new stake in Nkarta in the fourth quarter worth about $9,504,000. Commodore Capital LP purchased a new position in shares of Nkarta in the 4th quarter valued at approximately $18,018,000. Finally, Superstring Capital Management LP purchased a new position in Nkarta during the fourth quarter valued at $2,293,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

Nkarta Stock Up 1.8 %

NASDAQ:NKTX opened at $5.36 on Thursday. Nkarta, Inc. has a 52 week low of $1.28 and a 52 week high of $16.24. The stock has a market cap of $264.64 million, a price-to-earnings ratio of -2.28 and a beta of 0.83. The company’s 50 day moving average price is $6.40 and its 200-day moving average price is $8.34.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Thursday, May 9th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.02). As a group, sell-side analysts anticipate that Nkarta, Inc. will post -2.27 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NKTX shares. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Nkarta in a research report on Friday, June 28th. HC Wainwright reissued a “buy” rating and issued a $23.00 price target on shares of Nkarta in a research report on Thursday, June 27th. Raymond James restated an “outperform” rating and issued a $16.00 price target (up previously from $13.00) on shares of Nkarta in a research note on Friday, March 22nd. Canaccord Genuity Group lowered 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. Finally, Mizuho cut their target price on Nkarta from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $17.83.

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.