Shares of Nkarta, Inc. (NASDAQ:NKTX – Get Rating) have received an average recommendation of “Buy” from the nine research firms that are currently covering the company, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $49.13.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Nkarta from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, May 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Nkarta in a research note on Tuesday, March 29th. Raymond James raised their target price on Nkarta from $17.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 26th. Finally, HC Wainwright raised their target price on Nkarta from $25.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, April 25th.
Shares of NKTX stock opened at $15.05 on Monday. The stock’s fifty day moving average is $12.99 and its two-hundred day moving average is $12.49. The firm has a market capitalization of $496.80 million, a P/E ratio of -5.34 and a beta of -0.32. Nkarta has a fifty-two week low of $7.55 and a fifty-two week high of $40.64.
Nkarta (NASDAQ:NKTX – Get Rating) last announced its quarterly earnings data on Thursday, May 12th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.08). As a group, equities research analysts predict that Nkarta will post -2.59 earnings per share for the current year.
In other news, Director Ra Capital Management, L.P. bought 2,200,000 shares of the company’s stock in a transaction on Tuesday, April 26th. The stock was bought at an average cost of $15.00 per share, with a total value of $33,000,000.00. Following the transaction, the director now directly owns 7,805,129 shares in the company, valued at approximately $117,076,935. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Simeon George bought 1,333,333 shares of the company’s stock in a transaction on Thursday, April 28th. The stock was purchased at an average cost of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the transaction, the director now owns 666,667 shares in the company, valued at $10,000,005. The disclosure for this purchase can be found here. 12.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deep Track Capital LP grew its position in Nkarta by 67.2% in the 1st quarter. Deep Track Capital LP now owns 2,113,795 shares of the company’s stock valued at $24,055,000 after acquiring an additional 849,369 shares in the last quarter. BlackRock Inc. grew its position in Nkarta by 0.6% in the 3rd quarter. BlackRock Inc. now owns 1,361,219 shares of the company’s stock valued at $37,854,000 after acquiring an additional 8,393 shares in the last quarter. Wasatch Advisors Inc. grew its position in Nkarta by 33.4% in the 1st quarter. Wasatch Advisors Inc. now owns 842,302 shares of the company’s stock valued at $9,585,000 after acquiring an additional 210,700 shares in the last quarter. Rock Springs Capital Management LP grew its position in Nkarta by 0.5% in the 1st quarter. Rock Springs Capital Management LP now owns 509,948 shares of the company’s stock valued at $5,803,000 after acquiring an additional 2,700 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Nkarta by 1.0% in the 1st quarter. State Street Corp now owns 276,318 shares of the company’s stock valued at $3,144,000 after buying an additional 2,806 shares during the period. 74.19% of the stock is owned by institutional investors.
About Nkarta (Get Rating)
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.