Nkarta, Inc. (NASDAQ:NKTX) Sees Significant Decrease in Short Interest

Nkarta, Inc. (NASDAQ:NKTX) saw a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 1,910,000 shares, a drop of 19.7% from the March 31st total of 2,380,000 shares. Based on an average daily trading volume, of 253,900 shares, the short-interest ratio is presently 7.5 days. Approximately 10.8% of the shares of the company are short sold.

In other news, insider Nadir Mahmood sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $32.70, for a total transaction of $114,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Paul J. Hastings sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 30th. The stock was sold at an average price of $30.74, for a total value of $522,580.00. The disclosure for this sale can be found here.

A number of hedge funds have recently made changes to their positions in NKTX. Pacer Advisors Inc. acquired a new position in Nkarta in the fourth quarter worth $32,000. Penserra Capital Management LLC bought a new position in shares of Nkarta in the fourth quarter valued at about $46,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Nkarta in the 1st quarter valued at about $31,000. The Manufacturers Life Insurance Company lifted its position in shares of Nkarta by 11.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 9,844 shares of the company’s stock worth $605,000 after purchasing an additional 1,008 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new stake in shares of Nkarta in the fourth quarter valued at approximately $75,000. 77.12% of the stock is currently owned by institutional investors and hedge funds.

NKTX has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Nkarta in a research report on Wednesday, March 17th. Zacks Investment Research lowered shares of Nkarta from a “hold” rating to a “sell” rating in a research report on Tuesday, April 27th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $59.00.

Shares of NKTX traded down $2.06 during trading hours on Tuesday, reaching $28.70. 143,772 shares of the company traded hands, compared to its average volume of 234,519. Nkarta has a 1-year low of $22.46 and a 1-year high of $79.16. The stock’s fifty day moving average is $35.03 and its 200 day moving average is $43.98.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Wednesday, March 24th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.11). As a group, equities analysts forecast that Nkarta will post 19.15 earnings per share for the current year.

Nkarta Company Profile

Nkarta, Inc, a 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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