Nkarta, Inc. (NASDAQ:NKTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $13.25.

A number of brokerages have recently issued reports on NKTX. Stifel Nicolaus cut their price objective on shares of Nkarta from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen upgraded shares of Nkarta from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a research report on Monday, December 29th.

Insider Transactions at Nkarta

In related news, CEO Paul J. Hastings sold 26,046 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $2.07, for a total transaction of $53,915.22. Following the transaction, the chief executive officer directly owned 390,023 shares of the company’s stock, valued at $807,347.61. This represents a 6.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nkarta

Large investors have recently modified their holdings of the business. Marshall Wace LLP increased its holdings in shares of Nkarta by 82.6% during the fourth quarter. Marshall Wace LLP now owns 155,036 shares of the company’s stock valued at $287,000 after acquiring an additional 70,122 shares in the last quarter. AWM Investment Company Inc. grew its position in Nkarta by 13.3% during the 4th quarter. AWM Investment Company Inc. now owns 906,000 shares of the company’s stock worth $1,676,000 after purchasing an additional 106,000 shares during the last quarter. State Street Corp increased its stake in Nkarta by 1.9% during the 4th quarter. State Street Corp now owns 1,169,356 shares of the company’s stock valued at $2,163,000 after purchasing an additional 21,241 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Nkarta in the fourth quarter worth $37,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Nkarta by 45.8% in the fourth quarter. Wells Fargo & Company MN now owns 47,997 shares of the company’s stock worth $89,000 after buying an additional 15,079 shares during the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Nkarta Price Performance

NKTX opened at $1.97 on Friday. The firm has a market capitalization of $139.93 million, a PE ratio of -1.43 and a beta of 0.54. The business’s 50-day moving average is $2.01 and its two-hundred day moving average is $2.06. Nkarta has a 1 year low of $1.31 and a 1 year high of $2.74.

About Nkarta

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.