Nkarta (NASDAQ:NKTX) Stock Price Up 7.5%

Nkarta, Inc. (NASDAQ:NKTX) rose 7.5% on Wednesday . The stock traded as high as $29.47 and last traded at $29.27. Approximately 9,564 shares traded hands during trading, a decline of 96% from the average daily volume of 250,953 shares. The stock had previously closed at $27.24.

A number of equities research analysts have commented on NKTX shares. Cantor Fitzgerald raised their target price on Nkarta from $71.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, June 29th. Zacks Investment Research raised Nkarta from a “sell” rating to a “hold” rating in a report on Thursday, August 19th. Mizuho reissued a “buy” rating and issued a $81.00 target price on shares of Nkarta in a report on Wednesday, June 16th. Finally, Oppenheimer started coverage on Nkarta in a report on Thursday, July 15th. They issued an “outperform” rating and a $75.00 target price for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nkarta presently has an average rating of “Buy” and an average price target of $76.00.

The firm has a market cap of $981.62 million, a PE ratio of -12.96 and a beta of 1.03. The business has a 50-day moving average price of $32.23 and a two-hundred day moving average price of $32.23.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings results on Thursday, August 12th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.06). On average, analysts predict that Nkarta, Inc. will post -2.69 earnings per share for the current year.

In other news, insider Kanya Rajangam sold 10,000 shares of Nkarta stock in a transaction dated Thursday, August 5th. The stock was sold at an average price of $37.28, for a total value of $372,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Paul J. Hastings sold 8,500 shares of Nkarta stock in a transaction dated Monday, June 21st. The shares were sold at an average price of $26.61, for a total value of $226,185.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,140 shares of company stock valued at $937,911. Company insiders own 12.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Nkarta by 0.7% during the 2nd quarter. State Street Corp now owns 1,222,467 shares of the company’s stock worth $38,740,000 after purchasing an additional 8,077 shares during the last quarter. Wasatch Advisors Inc. increased its holdings in Nkarta by 11.8% during the 2nd quarter. Wasatch Advisors Inc. now owns 580,246 shares of the company’s stock worth $18,388,000 after purchasing an additional 61,028 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in Nkarta by 20.0% during the 2nd quarter. Westfield Capital Management Co. LP now owns 474,462 shares of the company’s stock worth $15,036,000 after purchasing an additional 78,958 shares during the last quarter. Millennium Management LLC increased its holdings in Nkarta by 41.0% during the 2nd quarter. Millennium Management LLC now owns 340,082 shares of the company’s stock worth $10,777,000 after purchasing an additional 98,851 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Nkarta by 22.5% during the 1st quarter. Geode Capital Management LLC now owns 326,081 shares of the company’s stock worth $10,728,000 after purchasing an additional 59,947 shares during the last quarter. 73.30% of the stock is currently owned by hedge funds and other institutional investors.

About Nkarta (NASDAQ:NKTX)

Nkarta, Inc, a a clinical-stage biopharmaceutical company, develops and commercializes cell therapies for cancer treatment. The company's approach for cellular immunotherapy involves chimeric antigen receptors on the surface of a natural killer (NK) cell that enable the cell to recognize specific proteins or antigens that are present on the surface of tumor cells.

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