Nkarta (NASDAQ:NKTX) Given New $14.00 Price Target at Stifel Nicolaus

Nkarta (NASDAQ:NKTX) had its target price cut by Stifel Nicolaus from $15.00 to $14.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other brokerages have also commented on NKTX. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 target price on shares of Nkarta in a research report on Thursday. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Nkarta in a report on Thursday. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Nkarta presently has an average rating of “Buy” and an average price target of $14.86.

Nkarta Price Performance

NKTX opened at $1.37 on Thursday. The stock has a market capitalization of $96.68 million, a PE ratio of -0.73 and a beta of 0.90. Nkarta has a 12-month low of $1.31 and a 12-month high of $11.84. The firm’s fifty day moving average price is $2.01 and its 200 day moving average price is $2.90.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. On average, equities research analysts forecast that Nkarta will post -1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Paul J. Hastings sold 17,378 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were 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 in the company, valued at approximately $703,689.80. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NKTX. Wasatch Advisors LP increased its stake in shares of Nkarta by 31.7% in the third quarter. Wasatch Advisors LP now owns 1,834,680 shares of the company’s stock valued at $8,293,000 after purchasing an additional 442,125 shares during the period. Geode Capital Management LLC grew its holdings in Nkarta by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,171,026 shares of the company’s stock worth $5,294,000 after buying an additional 33,927 shares in the last quarter. JPMorgan Chase & Co. increased its position in Nkarta by 252.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,063,362 shares of the company’s stock valued at $4,806,000 after acquiring an additional 761,349 shares during the period. Franklin Resources Inc. acquired a new position in Nkarta during the 3rd quarter worth $151,000. Finally, FMR LLC grew its stake in shares of Nkarta by 97.1% in the third quarter. FMR LLC now owns 133,149 shares of the company’s stock worth $602,000 after purchasing an additional 65,600 shares in the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

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.