Nkarta, Inc. (NASDAQ:NKTX) Short Interest Update

Nkarta, Inc. (NASDAQ:NKTX) was the target of a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 7,850,000 shares, a drop of 16.5% from the March 15th total of 9,400,000 shares. Currently, 12.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,480,000 shares, the days-to-cover ratio is presently 5.3 days.

Nkarta Trading Up 9.5 %

NASDAQ:NKTX traded up $0.18 during trading hours on Tuesday, hitting $2.03. The stock had a trading volume of 64,092 shares, compared to its average volume of 1,090,964. The business has a 50 day simple moving average of $1.77 and a two-hundred day simple moving average of $2.43. Nkarta has a 1-year low of $1.31 and a 1-year high of $8.33. The company has a market cap of $143.69 million, a PE ratio of -1.05 and a beta of 0.83.

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

Analysts Set New Price Targets

NKTX has been the topic of several research analyst reports. Stifel Nicolaus decreased their target price on shares of Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a research report on Wednesday, April 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price target on shares of Nkarta in a report on Thursday, March 27th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Nkarta currently has an average rating of “Buy” and a consensus target price of $14.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NKTX. Wells Fargo & Company MN raised its position in shares of Nkarta by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 31,056 shares of the company’s stock valued at $77,000 after purchasing an additional 6,763 shares in the last quarter. Catalina Capital Group LLC raised its holdings in Nkarta by 57.5% in the fourth quarter. Catalina Capital Group LLC now owns 18,818 shares of the company’s stock valued at $47,000 after acquiring an additional 6,867 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 acquiring an additional 7,030 shares during the last quarter. American Century Companies Inc. increased its position in shares of Nkarta by 8.8% in the 4th quarter. American Century Companies Inc. now owns 90,952 shares of the company’s stock worth $226,000 after purchasing an additional 7,378 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Nkarta by 4.1% in the 4th quarter. Wellington Management Group LLP now owns 225,224 shares of the company’s stock valued at $561,000 after purchasing an additional 8,883 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Nkarta Company Profile

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.