Nkarta, Inc. (NASDAQ:NKTX)’s stock price rose 7.5% during mid-day trading on Monday . The company traded as high as $26.93 and last traded at $26.90. Approximately 6,401 shares changed hands during trading, a decline of 97% from the average daily volume of 227,629 shares. The stock had previously closed at $25.03.
NKTX has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Nkarta from a “sell” rating to a “hold” rating in a report on Thursday, June 3rd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Nkarta in a report on Wednesday, March 17th. Evercore ISI reiterated a “buy” rating and set a $70.00 target price on shares of Nkarta in a report on Sunday, May 9th. Finally, Mizuho reiterated a “buy” rating and set a $81.00 target price on shares of Nkarta in a report on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $64.00.
The company has a 50-day moving average of $28.73. The company has a market capitalization of $825.17 million and a PE ratio of -0.79.
Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Thursday, May 13th. The company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.10). On average, analysts forecast that Nkarta, Inc. will post -2.43 EPS for the current year.
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 value of $114,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ralph Brandenberger sold 4,140 shares of the company’s stock in a transaction that occurred on Wednesday, June 2nd. The shares were sold at an average price of $24.50, for a total value of $101,430.00. Following the completion of the transaction, the insider now directly owns 340 shares in the company, valued at $8,330. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,640 shares of company stock worth $819,940.
A number of hedge funds have recently added to or reduced their stakes in NKTX. Point72 Hong Kong Ltd bought a new position in Nkarta in the 1st quarter valued at approximately $27,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Nkarta in the 1st quarter valued at approximately $31,000. Penserra Capital Management LLC bought a new position in Nkarta in the 4th quarter valued at approximately $46,000. Pacer Advisors Inc. lifted its position in Nkarta by 177.5% in the 1st quarter. Pacer Advisors Inc. now owns 1,429 shares of the company’s stock valued at $47,000 after acquiring an additional 914 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new position in Nkarta in the 4th quarter valued at approximately $75,000. 79.88% of the stock is currently owned by institutional investors and hedge funds.
About Nkarta (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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