Nkarta (NASDAQ:NKTX) Raised to Strong-Buy at RODMAN&RENSHAW

RODMAN&RENSHAW upgraded shares of Nkarta (NASDAQ:NKTX) to a strong-buy rating in a research report report published on Wednesday, Zacks.com reports.

NKTX has been the subject of several other research reports. Raymond James raised Nkarta from an outperform rating to a strong-buy rating and set a $16.00 price target for the company in a research note on Wednesday, August 14th. Needham & Company LLC reiterated a buy rating and issued a $13.00 target price on shares of Nkarta in a research report on Wednesday, August 14th. Rodman & Renshaw initiated coverage on shares of Nkarta in a research report on Wednesday. They set a buy rating and a $14.00 price target on the stock. Finally, HC Wainwright reduced their price target on shares of Nkarta from $23.00 to $22.00 and set a buy rating for the company in a research note on Thursday, August 15th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Nkarta has a consensus rating of Buy and an average target price of $17.50.

Nkarta Price Performance

Shares of NASDAQ NKTX opened at $3.89 on Wednesday. The firm has a market capitalization of $274.48 million, a PE ratio of -1.94 and a beta of 0.80. Nkarta has a 1-year low of $1.45 and a 1-year high of $16.24. The business’s fifty day moving average price is $5.04 and its two-hundred day moving average price is $6.29.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.15. Equities research analysts expect that Nkarta will post -1.92 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nkarta news, insider Alicia J. Hager sold 3,396 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $8.00, for a total value of $27,168.00. Following the completion of the sale, the insider now directly owns 103,819 shares of the company’s stock, valued at approximately $830,552. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new position in shares of Nkarta in the first quarter worth about $788,000. Vanguard Group Inc. boosted its stake in Nkarta by 26.0% in the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock worth $21,255,000 after purchasing an additional 405,753 shares during the period. Federated Hermes Inc. boosted its stake in Nkarta by 28,478.7% in the 2nd quarter. Federated Hermes Inc. now owns 135,749 shares of the company’s stock worth $802,000 after purchasing an additional 135,274 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Nkarta during the 2nd quarter worth approximately $1,489,000. Finally, Sierra Summit Advisors LLC acquired a new stake in Nkarta during the 4th quarter valued at $78,000. 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.