Analysts Set Nkarta, Inc. (NASDAQ:NKTX) PT at $14.86

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given a consensus recommendation of “Buy” by the eight brokerages that are presently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $14.86.

A number of equities analysts have recently issued reports on NKTX shares. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a report on Thursday. Stifel Nicolaus cut their target price on Nkarta from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Nkarta in a research note on Thursday.

Insider Transactions at Nkarta

In other Nkarta news, CEO Paul J. Hastings sold 17,378 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total transaction of $38,231.60. Following the completion of the transaction, the chief executive officer now owns 319,859 shares of the company’s stock, valued at $703,689.80. This represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nkarta

Several hedge funds have recently made changes to their positions in NKTX. Wells Fargo & Company MN boosted its holdings in Nkarta by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 31,056 shares of the company’s stock valued at $77,000 after acquiring an additional 6,763 shares in the last quarter. Catalina Capital Group LLC lifted its position in shares of Nkarta by 57.5% in the 4th quarter. Catalina Capital Group LLC now owns 18,818 shares of the company’s stock worth $47,000 after purchasing an additional 6,867 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Nkarta by 41.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,958 shares of the company’s stock valued at $60,000 after purchasing an additional 7,030 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Nkarta in the third quarter worth about $33,000. Finally, American Century Companies Inc. boosted its position in Nkarta by 8.8% during the 4th quarter. American Century Companies Inc. now owns 90,952 shares of the company’s stock valued at $226,000 after acquiring an additional 7,378 shares in the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.

Nkarta Price Performance

NKTX stock opened at $2.00 on Thursday. The firm has a 50 day simple moving average of $1.99 and a two-hundred day simple moving average of $2.84. The stock has a market cap of $141.92 million, a PE ratio of -1.06 and a beta of 0.90. Nkarta has a one year low of $1.31 and a one year high of $11.84.

Nkarta (NASDAQ:NKTX) last announced 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, research analysts expect that Nkarta will post -1.7 EPS for the current fiscal year.

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.