Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) PT at $13.25

Nkarta, Inc. (NASDAQ:NKTX) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $13.25.

Several equities analysts have commented on NKTX shares. Stifel Nicolaus decreased their price target on shares of Nkarta from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Wall Street Zen upgraded Nkarta from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research note on Monday, December 29th.

Insider Activity at Nkarta

In related news, CEO Paul J. Hastings sold 26,046 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $2.07, for a total transaction of $53,915.22. Following the sale, the chief executive officer directly owned 390,023 shares in the company, valued at approximately $807,347.61. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NKTX. Invesco Ltd. increased its position in shares of Nkarta by 478.4% in the 1st quarter. Invesco Ltd. now owns 69,396 shares of the company’s stock valued at $128,000 after purchasing an additional 57,399 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Nkarta by 300.5% during the first quarter. AQR Capital Management LLC now owns 672,078 shares of the company’s stock worth $1,237,000 after purchasing an additional 504,272 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Nkarta by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 681,068 shares of the company’s stock valued at $1,253,000 after buying an additional 80,211 shares during the last quarter. Jane Street Group LLC raised its stake in Nkarta by 118.7% in the first quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock valued at $247,000 after buying an additional 852,559 shares in the last quarter. Finally, CWM LLC raised its stake in Nkarta by 23.4% in the second quarter. CWM LLC now owns 34,758 shares of the company’s stock valued at $58,000 after buying an additional 6,601 shares in the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Nkarta Stock Performance

NASDAQ NKTX opened at $2.06 on Friday. The firm has a market cap of $146.32 million, a price-to-earnings ratio of -1.49 and a beta of 0.54. The firm has a 50 day simple moving average of $2.02 and a 200-day simple moving average of $2.06. Nkarta has a one year low of $1.31 and a one year high of $2.74.

About Nkarta

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.