Nkarta’s (NKTX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Nkarta (NASDAQ:NKTX) in a research report report published on Thursday,Benzinga reports. They currently have a $11.00 price objective on the stock.

Nkarta Price Performance

NASDAQ NKTX opened at $1.97 on Thursday. The stock has a market capitalization of $139.02 million, a price-to-earnings ratio of -1.05 and a beta of 0.90. Nkarta has a 1-year low of $1.31 and a 1-year high of $11.84. The business’s fifty day moving average price is $2.00 and its 200-day moving average price is $2.89.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Wednesday, March 26th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.06. Equities research analysts anticipate that Nkarta will post -1.7 EPS for the current year.

Insider Buying and Selling at Nkarta

In other news, CEO Paul J. Hastings sold 17,378 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total value of $38,231.60. Following the transaction, the chief executive officer now owns 319,859 shares of the company’s stock, valued at $703,689.80. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nkarta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. purchased a new position in Nkarta during the fourth quarter valued at approximately $30,000. Sequoia Financial Advisors LLC purchased a new position in shares of Nkarta during the 4th quarter valued at $31,000. Erste Asset Management GmbH purchased a new position in shares of Nkarta during the 3rd quarter valued at $33,000. China Universal Asset Management Co. Ltd. bought a new position in Nkarta in the 4th quarter worth $37,000. Finally, ProShare Advisors LLC purchased a new stake in Nkarta in the 4th quarter worth $45,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

Nkarta Company Profile

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.