Nkarta (NASDAQ:NKTX) Price Target Raised to $11.00 at Needham & Company LLC

Nkarta (NASDAQ:NKTX) had its price objective upped by Needham & Company LLC from $10.00 to $11.00 in a report issued on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts also recently commented on NKTX. Wall Street Zen raised shares of Nkarta from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a report on Monday, December 29th. Three 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.

Nkarta Stock Up 0.5%

Shares of NASDAQ NKTX opened at $2.14 on Thursday. The stock’s 50 day moving average price is $2.28 and its two-hundred day moving average price is $2.10. Nkarta has a 52-week low of $1.42 and a 52-week high of $2.81. The stock has a market capitalization of $152.00 million, a P/E ratio of -1.53 and a beta of 0.47.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Wednesday, March 25th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). On average, analysts anticipate that Nkarta will post -1.7 EPS for the current year.

Insider Buying and Selling at Nkarta

In related news, CEO Paul J. Hastings sold 26,046 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $2.07, for a total value of $53,915.22. Following the sale, the chief executive officer owned 390,023 shares of the company’s stock, valued at approximately $807,347.61. This trade represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NKTX. Hsbc Holdings PLC increased its position in Nkarta by 70.0% in the fourth quarter. Hsbc Holdings PLC now owns 161,434 shares of the company’s stock worth $299,000 after buying an additional 66,479 shares during the period. Invesco Ltd. lifted its stake in Nkarta by 28.8% in the fourth quarter. Invesco Ltd. now owns 150,476 shares of the company’s stock valued at $278,000 after buying an additional 33,632 shares during the last quarter. XTX Topco Ltd boosted its holdings 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 acquiring an additional 117,856 shares during the period. Man Group plc grew its position in shares of Nkarta by 102.7% during the fourth quarter. Man Group plc now owns 88,438 shares of the company’s stock worth $164,000 after acquiring an additional 44,810 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its position 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 worth $199,000 after acquiring an additional 20,000 shares during the last quarter. 80.54% of the stock is currently 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.