Nkarta (NASDAQ:NKTX) Price Target Lowered to $14.00 at Stifel Nicolaus

Nkarta (NASDAQ:NKTX) had its target price trimmed by Stifel Nicolaus from $15.00 to $14.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Nkarta in a report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $11.00 price target on shares of Nkarta in a research report on Thursday. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $14.86.

Nkarta Stock Up 43.8 %

NASDAQ:NKTX opened at $1.97 on Thursday. The company has a market cap of $139.02 million, a P/E ratio of -1.05 and a beta of 0.90. Nkarta has a twelve month low of $1.31 and a twelve month high of $11.84. The business has a 50 day moving average price of $2.00 and a two-hundred day moving average price of $2.89.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Wednesday, March 26th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.06. As a group, analysts anticipate that Nkarta will post -1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Paul J. Hastings sold 17,378 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total transaction of $38,231.60. Following the transaction, the chief executive officer now directly owns 319,859 shares of the company’s stock, valued at $703,689.80. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Trading of Nkarta

Large investors have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. grew its holdings in Nkarta by 901.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company’s stock valued at $6,236,000 after buying an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC lifted its position in Nkarta by 252.9% in the 4th quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company’s stock worth $5,711,000 after buying an additional 1,643,719 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Nkarta by 138.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company’s stock valued at $6,319,000 after purchasing an additional 1,474,560 shares during the last quarter. Wasatch Advisors LP increased its holdings in shares of Nkarta by 37.4% in the fourth quarter. Wasatch Advisors LP now owns 2,520,909 shares of the company’s stock worth $6,277,000 after buying an additional 686,229 shares during the period. Finally, AWM Investment Company Inc. purchased a new position in Nkarta in the 4th quarter worth approximately $996,000. 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.