Nkarta, Inc. (NASDAQ:NKTX) Receives $17.50 Average Target Price from Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given an average rating of “Buy” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $17.50.

NKTX has been the topic of several research analyst reports. Rodman & Renshaw began coverage on shares of Nkarta in a research note on Wednesday. They issued a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $13.00 price target on shares of Nkarta in a research note on Wednesday, August 14th. Raymond James upgraded Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a report on Wednesday, August 14th. RODMAN&RENSHAW raised Nkarta to a “strong-buy” rating in a report on Wednesday. Finally, HC Wainwright cut their target price on shares of Nkarta from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, August 15th.

Nkarta Trading Up 4.9 %

NASDAQ:NKTX opened at $3.89 on Wednesday. The stock has a 50-day moving average price of $5.04 and a 200 day moving average price of $6.32. The stock has a market capitalization of $274.48 million, a P/E ratio of -1.94 and a beta of 0.80. Nkarta has a 12-month low of $1.45 and a 12-month high of $16.24.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.15. On average, research analysts predict that Nkarta will post -1.92 earnings per share for the current fiscal year.

Insider Transactions at Nkarta

In other news, insider Alicia J. Hager sold 3,396 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.00, for a total value of $27,168.00. Following the sale, the insider now owns 103,819 shares of the company’s stock, valued at approximately $830,552. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Nkarta

Hedge funds and other institutional investors have recently modified their holdings of the business. RA Capital Management L.P. lifted its holdings in Nkarta by 38.4% during the 1st quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock valued at $116,803,000 after buying an additional 3,000,000 shares in the last quarter. SR One Capital Management LP raised its stake in shares of Nkarta by 150.0% during the first quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock valued at $36,033,000 after acquiring an additional 2,000,000 shares in the last quarter. Commodore Capital LP purchased a new stake in shares of Nkarta in the fourth quarter valued at approximately $18,018,000. Wasatch Advisors LP grew its stake in Nkarta by 13.6% in the fourth quarter. Wasatch Advisors LP now owns 2,099,699 shares of the company’s stock worth $13,858,000 after purchasing an additional 251,795 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Nkarta by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock worth $21,255,000 after purchasing an additional 405,753 shares during the period. 80.54% of the stock is currently 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.