Canaccord Genuity Group Boosts Nkarta (NASDAQ:NKTX) Price Target to $16.00

Nkarta (NASDAQ:NKTX) had its price target increased by Canaccord Genuity Group from $15.00 to $16.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on NKTX. Mizuho decreased their price objective on Nkarta from $31.00 to $25.00 and set a buy rating for the company in a research note on Friday, March 22nd. Needham & Company LLC restated a buy rating and issued a $15.00 price target on shares of Nkarta in a report on Friday, March 22nd. HC Wainwright reduced their price objective 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, Raymond James restated an outperform rating and issued a $16.00 target price (up from $13.00) on shares of Nkarta in a research note on Friday, March 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of Buy and an average target price of $17.83.

Nkarta Trading Down 2.5 %

Shares of NKTX stock opened at $10.81 on Tuesday. Nkarta has a twelve month low of $1.28 and a twelve month high of $16.24. The stock has a fifty day simple moving average of $10.91 and a two-hundred day simple moving average of $5.94. The stock has a market capitalization of $534.23 million, a price-to-earnings ratio of -4.50 and a beta of 0.73.

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

Insider Activity

In other Nkarta news, Director Simeon George bought 2,000,000 shares of Nkarta stock in a transaction that occurred on Wednesday, March 27th. The stock was purchased at an average price of $10.00 per share, with a total value of $20,000,000.00. Following the completion of the acquisition, the director now directly owns 1,548,341 shares in the company, valued at approximately $15,483,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nkarta news, insider David Shook sold 3,552 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 $31,044.48. Following the completion of the transaction, the insider now directly owns 114,980 shares of the company’s stock, valued at $1,004,925.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Simeon George bought 2,000,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average cost of $10.00 per share, with a total value of $20,000,000.00. Following the completion of the acquisition, the director now owns 1,548,341 shares in the company, valued at $15,483,410. The disclosure for this purchase can be found here. Insiders have sold 17,392 shares of company stock valued at $165,512 in the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. T. Rowe Price Investment Management Inc. increased its stake in shares of Nkarta by 18.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,749,101 shares of the company’s stock valued at $28,448,000 after purchasing an additional 745,757 shares in the last quarter. Wasatch Advisors LP grew its holdings in Nkarta by 43.1% in the first 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 period. Price T Rowe Associates Inc. MD increased its position in shares of Nkarta by 64.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,879,662 shares of the company’s stock valued at $47,797,000 after buying an additional 1,520,473 shares in the last quarter. BlackRock Inc. raised its stake in shares of Nkarta by 0.8% during the 1st quarter. BlackRock Inc. now owns 3,221,996 shares of the company’s stock worth $11,438,000 after buying an additional 25,628 shares during the period. Finally, Commodore Capital LP purchased a new position in shares of Nkarta during the 4th quarter valued at approximately $18,018,000. Institutional investors and hedge funds 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.