Nkarta (NASDAQ:NKTX) Sees Unusually-High Trading Volume

Nkarta, Inc. (NASDAQ:NKTX) shares saw unusually-high trading volume on Thursday . Approximately 11,983 shares were traded during trading, a decline of 95% from the previous session’s volume of 233,713 shares.The stock last traded at $25.13 and had previously closed at $25.42.

Several analysts have issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Nkarta in a research report on Wednesday, March 17th. Evercore ISI reaffirmed a “buy” rating and set a $70.00 price target on shares of Nkarta in a research note on Sunday, May 9th. Finally, Zacks Investment Research cut shares of Nkarta from a “hold” rating to a “sell” rating in a research report on Tuesday, April 27th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.00.

The business’s 50 day moving average is $31.87 and its 200-day moving average is $43.81.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data on Thursday, May 13th. The company reported ($0.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.10). Sell-side analysts forecast that Nkarta, Inc. will post 19.15 earnings per share for the current fiscal year.

In other Nkarta news, CEO Paul J. Hastings sold 17,000 shares of the stock in a transaction on Tuesday, March 30th. The shares were sold at an average price of $30.74, for a total transaction of $522,580.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nadir Mahmood sold 3,000 shares of the firm’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $27.16, for a total transaction of $81,480.00. The disclosure for this sale can be found here. Insiders sold 23,500 shares of company stock valued at $718,510 over the last quarter.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Nkarta by 36.4% during the fourth quarter. BlackRock Inc. now owns 1,804,723 shares of the company’s stock valued at $110,936,000 after purchasing an additional 481,337 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Nkarta by 3,218.2% during the 1st quarter. JPMorgan Chase & Co. now owns 242,162 shares of the company’s stock valued at $7,967,000 after purchasing an additional 234,864 shares during the period. Sectoral Asset Management Inc bought a new position in Nkarta during the 1st quarter worth $5,562,000. Caas Capital Management LP acquired a new stake in Nkarta in the fourth quarter worth $10,014,000. Finally, Wasatch Advisors Inc. lifted its stake in Nkarta by 21.8% in the first quarter. Wasatch Advisors Inc. now owns 519,218 shares of the company’s stock valued at $17,082,000 after buying an additional 92,762 shares during the last quarter. Hedge funds and other institutional investors own 77.12% of the company’s stock.

Nkarta Company Profile (NASDAQ:NKTX)

Nkarta, Inc, a a clinical-stage biopharmaceutical company, develops and commercializes cell therapies for cancer treatment. The company's approach for cellular immunotherapy involves chimeric antigen receptors on the surface of a natural killer (NK) cell that enable the cell to recognize specific proteins or antigens that are present on the surface of tumor cells.

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