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

Nkarta, Inc. (NASDAQ:NKTX)’s share price gapped down before the market opened 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.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Nkarta from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright dropped their price target on shares of Nkarta from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Raymond James reissued an “outperform” rating and issued a $16.00 target price (up from $13.00) on shares of Nkarta in a report on Friday, March 22nd. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of Nkarta in a research note on Friday, March 22nd. Finally, Mizuho cut their price target on Nkarta from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nkarta currently has an average rating of “Buy” and a consensus target price of $17.83.

Nkarta Stock Performance

The stock’s 50-day moving average price is $10.86 and its two-hundred day moving average price is $5.91.

Nkarta (NASDAQ:NKTX) last released 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. On average, sell-side analysts anticipate that Nkarta, Inc. will post -2.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 transaction of $49,716.00. Following the completion of the transaction, the insider now owns 149,415 shares of the company’s stock, valued at $1,792,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider James Trager sold 4,143 shares of the company’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 completion of the transaction, the insider now directly owns 149,415 shares in the company, valued at approximately $1,792,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul J. Hastings sold 9,697 shares of the business’s 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 sale, the chief executive officer now owns 390,507 shares of the company’s stock, valued at approximately $3,413,031.18. The disclosure for this sale can be found here. Insiders sold a total of 17,392 shares of company stock worth $165,512 over the last ninety days. 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 the company. T. Rowe Price Investment Management Inc. boosted its holdings in Nkarta by 18.6% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,749,101 shares of the company’s stock valued at $28,448,000 after acquiring an additional 745,757 shares in the last quarter. Wasatch Advisors LP boosted its stake in Nkarta by 43.1% during the 1st quarter. Wasatch Advisors LP now owns 3,913,676 shares of the company’s stock valued at $13,894,000 after purchasing an additional 1,179,466 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Nkarta by 64.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,879,662 shares of the company’s stock worth $47,797,000 after buying an additional 1,520,473 shares during the last quarter. BlackRock Inc. boosted its holdings in Nkarta by 0.8% in the first quarter. BlackRock Inc. now owns 3,221,996 shares of the company’s stock worth $11,438,000 after purchasing an additional 25,628 shares during the last quarter. Finally, Commodore Capital LP bought a new stake in shares of Nkarta in the fourth quarter worth $18,018,000. 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.