Nkarta (NASDAQ:NKTX) Shares Gap Down to $11.09

Nkarta, Inc. (NASDAQ:NKTX) gapped down prior to trading on Thursday . The stock had previously closed at $11.09, but opened at $10.80. Nkarta shares last traded at $10.82, with a volume of 70,617 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Mizuho reduced their target price on shares of Nkarta from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Raymond James reaffirmed an “outperform” rating and issued a $16.00 target price (up previously from $13.00) on shares of Nkarta in a report on Friday, March 22nd. Canaccord Genuity Group raised their price objective on shares of Nkarta from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Nkarta in a report on Friday, March 22nd. Finally, HC Wainwright cut their price objective on shares of Nkarta from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Nkarta presently has a consensus rating of “Buy” and a consensus target price of $17.83.

Nkarta Stock Performance

The firm has a 50 day moving average price of $10.86 and a 200-day moving average price of $5.91.

Nkarta (NASDAQ:NKTX) last announced its earnings results on Thursday, March 21st. The company reported ($0.57) earnings per share for the quarter, beating the consensus estimate of ($0.62) by $0.05. Research analysts forecast that Nkarta, Inc. will post -2.33 earnings per share for the current fiscal year.

Insider Activity at Nkarta

In other news, CEO Paul J. Hastings sold 9,697 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $8.74, for a total transaction of $84,751.78. Following the completion of the transaction, the chief executive officer now owns 390,507 shares of the company’s stock, valued at approximately $3,413,031.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Paul J. Hastings sold 9,697 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $8.74, for a total transaction of $84,751.78. Following the completion of the sale, the chief executive officer now owns 390,507 shares in the company, valued at approximately $3,413,031.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Trager sold 4,143 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $12.00, for a total value of $49,716.00. Following the sale, the insider now owns 149,415 shares of the company’s stock, valued at approximately $1,792,980. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,392 shares of company stock valued at $165,512. 5.60% of the stock is owned by insiders.

Institutional Trading of Nkarta

Institutional investors have recently modified their holdings of the company. Innovis Asset Management LLC purchased a new stake in shares of Nkarta during the 3rd quarter worth about $193,000. Acadian Asset Management LLC purchased a new position in Nkarta in the 3rd quarter worth approximately $89,000. Forefront Analytics LLC boosted its holdings in Nkarta by 282.5% in the 3rd quarter. Forefront Analytics LLC now owns 39,657 shares of the company’s stock worth $55,000 after acquiring an additional 29,290 shares during the period. Monaco Asset Management SAM purchased a new position in Nkarta in the 3rd quarter worth approximately $327,000. Finally, Prelude Capital Management LLC purchased a new position in shares of Nkarta during the 2nd quarter valued at approximately $34,000. 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.