Nkarta (NASDAQ:NKTX) Price Target Increased to $16.00 by Analysts at Canaccord Genuity Group

Nkarta (NASDAQ:NKTX) had its price objective hoisted by Canaccord Genuity Group from $15.00 to $16.00 in a report published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently issued reports on NKTX. Raymond James reissued an outperform rating and issued a $16.00 target price (up from $13.00) on shares of Nkarta in a research report on Friday, March 22nd. Needham & Company LLC reaffirmed a buy rating and set a $15.00 price objective on shares of Nkarta in a report on Friday, March 22nd. HC Wainwright reduced their target price on shares of Nkarta from $22.00 to $20.00 and set a buy rating for the company in a research note on Friday, March 22nd. Finally, Mizuho lowered their price target on shares of Nkarta from $31.00 to $25.00 and set a buy rating on the stock in a research report on Friday, March 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and an average price target of $17.83.

Nkarta Stock Performance

NASDAQ:NKTX opened at $10.81 on Tuesday. Nkarta has a 52 week low of $1.28 and a 52 week high of $16.24. The firm has a 50-day moving average price of $10.98 and a two-hundred day moving average price of $6.00. The firm has a market cap of $534.23 million, a price-to-earnings ratio of -4.50 and a beta of 0.73.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.57) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.05. As a group, sell-side analysts forecast that Nkarta will post -2.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David Shook sold 3,552 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 $31,044.48. Following the completion of the sale, the insider now owns 114,980 shares in the company, valued at approximately $1,004,925.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Paul J. Hastings sold 9,697 shares of Nkarta stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $8.74, for a total value of $84,751.78. Following the completion of the transaction, 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 legal filing with the SEC, which is available through this hyperlink. Also, insider David Shook sold 3,552 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $8.74, for a total value of $31,044.48. Following the transaction, the insider now owns 114,980 shares of the company’s stock, valued at approximately $1,004,925.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,392 shares of company stock worth $165,512. 5.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nkarta

A number of hedge funds have recently modified their holdings of NKTX. Innovis Asset Management LLC acquired a new stake in Nkarta during the 3rd quarter worth about $193,000. Acadian Asset Management LLC purchased a new stake in Nkarta in the 3rd quarter worth approximately $89,000. Forefront Analytics LLC boosted its stake in shares of Nkarta by 282.5% during the 3rd quarter. Forefront Analytics LLC now owns 39,657 shares of the company’s stock valued at $55,000 after buying an additional 29,290 shares during the period. Monaco Asset Management SAM purchased a new position in shares of Nkarta during the 3rd quarter valued at $327,000. Finally, Prelude Capital Management LLC acquired a new position in shares of Nkarta in the second quarter worth $34,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.