Nkarta (NASDAQ:NKTX) PT Raised to $16.00 at Canaccord Genuity Group

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

A number of other analysts also recently commented on the company. Raymond James reissued an outperform rating and issued a $16.00 price objective (up previously from $13.00) on shares of Nkarta in a research note on Friday, March 22nd. Mizuho reduced their price objective on shares of Nkarta from $31.00 to $25.00 and set a buy rating for the company in a research report on Friday, March 22nd. HC Wainwright dropped their target price on shares of Nkarta from $22.00 to $20.00 and set a buy rating on the stock in a report on Friday, March 22nd. Finally, Needham & Company LLC reissued a buy rating and set a $15.00 target price 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 company currently has an average rating of Buy and a consensus target price of $17.83.

Nkarta Stock Down 2.5 %

NASDAQ:NKTX opened at $10.81 on Tuesday. The stock’s 50 day moving average price is $10.91 and its 200 day moving average price is $5.94. Nkarta has a 52-week low of $1.28 and a 52-week high of $16.24. The company has a market capitalization of $534.23 million, a PE 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 for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.05. As a group, sell-side analysts anticipate that Nkarta will post -2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider James Trager sold 4,143 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $12.00, for a total value of $49,716.00. Following the sale, the insider now owns 149,415 shares of the company’s stock, valued at $1,792,980. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider James Trager sold 4,143 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $12.00, for a total transaction of $49,716.00. Following the transaction, the insider now owns 149,415 shares in the company, valued at approximately $1,792,980. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Paul J. Hastings sold 9,697 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $8.74, for a total transaction of $84,751.78. Following the completion of the sale, the chief executive officer now directly owns 390,507 shares of the company’s stock, valued at approximately $3,413,031.18. The disclosure for this sale can be found here. Insiders have sold 17,392 shares of company stock valued at $165,512 over the last three months. 5.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nkarta

Several hedge funds have recently added to or reduced their stakes in the company. Leo Wealth LLC acquired a new position in Nkarta during the 4th quarter valued at about $362,000. Vanguard Group Inc. lifted its holdings in Nkarta by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 1,560,518 shares of the company’s stock valued at $10,299,000 after buying an additional 61,778 shares during the period. Goldman Sachs Group Inc. boosted its stake in Nkarta by 10.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 79,168 shares of the company’s stock valued at $523,000 after acquiring an additional 7,670 shares during the last quarter. Sierra Summit Advisors LLC acquired a new stake in Nkarta during the 4th quarter worth $78,000. Finally, Barclays PLC raised its position in shares of Nkarta by 79.7% during the 4th quarter. Barclays PLC now owns 81,139 shares of the company’s stock valued at $537,000 after acquiring an additional 35,997 shares during the last quarter. 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.