Nkarta (NASDAQ:NKTX) Stock Price Down 1.5% – Time to Sell?

Nkarta, Inc. (NASDAQ:NKTX)’s stock price was down 1.5% during mid-day trading on Thursday . The company traded as low as $1.96 and last traded at $1.97. Approximately 750,147 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 814,963 shares. The stock had previously closed at $2.00.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on NKTX shares. Wall Street Zen upgraded Nkarta from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Stifel Nicolaus decreased their price objective on shares of Nkarta from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.25.

Nkarta Stock Performance

The company has a market cap of $139.93 million, a P/E ratio of -1.43 and a beta of 0.54. The company’s 50-day moving average price is $2.01 and its two-hundred day moving average price is $2.06.

Insider Buying and Selling at Nkarta

In other Nkarta news, CEO Paul J. Hastings sold 26,046 shares of the stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Nkarta

A number of hedge funds and other institutional investors have recently made changes to their positions in NKTX. Monaco Asset Management SAM grew its stake in Nkarta by 94.7% during the second quarter. Monaco Asset Management SAM now owns 1,583,372 shares of the company’s stock worth $2,628,000 after buying an additional 770,256 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Nkarta by 81.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 149,530 shares of the company’s stock worth $248,000 after buying an additional 67,290 shares during the period. Peapod Lane Capital LLC grew its stake in shares of Nkarta by 11.0% in the second quarter. Peapod Lane Capital LLC now owns 663,850 shares of the company’s stock worth $1,102,000 after purchasing an additional 65,605 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nkarta in the 4th quarter valued at about $37,000. Finally, Savant Capital LLC acquired a new stake in Nkarta during the 2nd quarter valued at approximately $36,000. 80.54% of the stock is 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.