Nkarta’s (NKTX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Nkarta (NASDAQ:NKTX) in a research report report published on Wednesday morning, Benzinga reports. HC Wainwright currently has a $23.00 target price on the stock.

Several other brokerages have also recently commented on NKTX. Canaccord Genuity Group reduced their price objective on shares of Nkarta from $16.00 to $15.00 and set a buy rating for the company in a research note on Friday, May 10th. Needham & Company LLC reiterated a buy rating and issued a $13.00 price objective on shares of Nkarta in a research report on Friday, June 28th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average target price of $17.83.

Nkarta Stock Up 1.9 %

Shares of NASDAQ:NKTX opened at $7.04 on Wednesday. The firm has a market capitalization of $347.92 million, a PE ratio of -3.00 and a beta of 0.83. Nkarta has a twelve month low of $1.28 and a twelve month high of $16.24. The company has a 50-day moving average price of $6.27 and a two-hundred day moving average price of $8.41.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Thursday, May 9th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). Analysts anticipate that Nkarta will post -2.27 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nkarta news, insider Alicia J. Hager sold 3,396 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $8.00, for a total transaction of $27,168.00. Following the sale, the insider now owns 103,819 shares in the company, valued at $830,552. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nkarta

A number of large investors have recently added to or reduced their stakes in NKTX. Boxer Capital LLC bought a new position in shares of Nkarta during the fourth quarter valued at about $9,504,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Nkarta in the first quarter worth about $788,000. Wasatch Advisors LP grew its stake in shares of Nkarta by 13.6% in the fourth quarter. Wasatch Advisors LP now owns 2,099,699 shares of the company’s stock worth $13,858,000 after purchasing an additional 251,795 shares during the last quarter. Superstring Capital Management LP bought a new stake in shares of Nkarta in the fourth quarter worth about $2,293,000. Finally, Sierra Summit Advisors LLC bought a new stake in shares of Nkarta in the fourth quarter worth about $78,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

About Nkarta

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis.