Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) PT at $13.25

Nkarta, Inc. (NASDAQ:NKTX) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $13.25.

A number of brokerages have recently issued reports on NKTX. Wall Street Zen raised shares of Nkarta from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a report on Monday, December 29th. Finally, Stifel Nicolaus reduced their price target on Nkarta from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th.

Nkarta Stock Down 1.3%

NASDAQ NKTX opened at $2.33 on Friday. The company has a 50-day moving average price of $2.04 and a 200-day moving average price of $2.06. Nkarta has a 52 week low of $1.31 and a 52 week high of $2.74. The firm has a market capitalization of $165.50 million, a P/E ratio of -1.69 and a beta of 0.54.

Insider Transactions at Nkarta

In other Nkarta news, CEO Paul J. Hastings sold 26,046 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $2.07, for a total transaction of $53,915.22. Following the sale, the chief executive officer owned 390,023 shares in the company, valued at approximately $807,347.61. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Nkarta

A number of hedge funds have recently modified their holdings of the company. GSK plc bought a new stake in shares of Nkarta during the 4th quarter valued at $5,829,000. Monaco Asset Management SAM boosted its holdings in Nkarta by 29.2% in the 4th quarter. Monaco Asset Management SAM now owns 2,546,932 shares of the company’s stock worth $4,712,000 after buying an additional 576,022 shares during the period. Renaissance Technologies LLC increased its stake in Nkarta by 48.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,702,022 shares of the company’s stock worth $3,149,000 after buying an additional 556,945 shares in the last quarter. Geode Capital Management LLC raised its holdings in Nkarta by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock valued at $2,006,000 after acquiring an additional 10,065 shares during the period. Finally, State Street Corp raised its holdings in Nkarta by 1.9% during the fourth quarter. State Street Corp now owns 1,169,356 shares of the company’s stock valued at $2,163,000 after acquiring an additional 21,241 shares during the period. 80.54% of the stock is currently owned by institutional investors.

Nkarta Company Profile

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.