Analysts Set Nkarta, Inc. (NASDAQ:NKTX) Price Target at $13.25

Shares of Nkarta, Inc. (NASDAQ:NKTX) have earned an average rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $13.25.

A number of research analysts have recently commented on NKTX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research note on Monday, December 29th. Wall Street Zen raised Nkarta from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th.

Nkarta Price Performance

Shares of NKTX opened at $2.24 on Thursday. The company has a 50-day simple moving average of $2.27 and a two-hundred day simple moving average of $2.10. The firm has a market capitalization of $159.11 million, a PE ratio of -1.62 and a beta of 0.47. Nkarta has a one year low of $1.31 and a one year high of $2.81.

Insider Activity at Nkarta

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Invesco Ltd. boosted its stake in Nkarta by 28.8% during the fourth quarter. Invesco Ltd. now owns 150,476 shares of the company’s stock worth $278,000 after acquiring an additional 33,632 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Nkarta by 698.4% during the fourth quarter. XTX Topco Ltd now owns 134,730 shares of the company’s stock valued at $249,000 after purchasing an additional 117,856 shares in the last quarter. Man Group plc lifted its holdings in shares of Nkarta by 102.7% during the fourth quarter. Man Group plc now owns 88,438 shares of the company’s stock valued at $164,000 after purchasing an additional 44,810 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in shares of Nkarta by 22.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 107,800 shares of the company’s stock valued at $199,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Abel Hall LLC bought a new stake in shares of Nkarta in the 4th quarter worth approximately $27,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

About Nkarta

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.