Nkarta (NASDAQ:NKTX) Given Buy Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of Nkarta (NASDAQ:NKTX) in a report released on Thursday,Benzinga reports. HC Wainwright currently has a $18.00 price target on the stock.

Separately, Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a report on Thursday. Six investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.86.

Nkarta Stock Performance

Shares of NASDAQ:NKTX opened at $1.97 on Thursday. The firm’s 50 day simple moving average is $2.00 and its 200-day simple moving average is $2.89. Nkarta has a one year low of $1.31 and a one year high of $11.84. The firm has a market cap of $139.02 million, a PE ratio of -1.05 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. Equities research analysts predict that Nkarta will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling at Nkarta

In other news, CEO Paul J. Hastings sold 17,378 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total value of $38,231.60. Following the sale, the chief executive officer now directly owns 319,859 shares in the company, valued at approximately $703,689.80. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Nkarta

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. acquired a new position in shares of Nkarta during the fourth quarter worth $30,000. Sequoia Financial Advisors LLC acquired a new position in Nkarta during the 4th quarter valued at about $31,000. Erste Asset Management GmbH purchased a new stake in Nkarta in the third quarter valued at about $33,000. China Universal Asset Management Co. Ltd. purchased a new stake in Nkarta in the fourth quarter valued at about $37,000. Finally, ProShare Advisors LLC acquired a new stake in Nkarta in the fourth quarter worth about $45,000. Hedge funds and other institutional investors 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.