HC Wainwright Reaffirms Buy Rating for Nkarta (NASDAQ:NKTX)

Nkarta (NASDAQ:NKTX)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $23.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 244.31% from the stock’s current price.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $13.00 price target on shares of Nkarta in a research report on Friday, June 28th. Canaccord Genuity Group dropped their price target on Nkarta from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Nkarta has a consensus rating of “Buy” and a consensus target price of $17.83.

Nkarta Stock Down 2.3 %

NKTX stock traded down $0.16 during trading on Wednesday, hitting $6.68. The company had a trading volume of 409,830 shares, compared to its average volume of 1,411,901. The firm has a market cap of $330.10 million, a PE ratio of -2.86 and a beta of 0.83. Nkarta has a 1-year low of $1.28 and a 1-year high of $16.24. The firm has a 50-day moving average price of $6.27 and a 200-day moving average price of $8.48.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.02). Sell-side analysts anticipate that Nkarta will post -2.27 earnings per share for the current year.

Insiders Place Their Bets

In other Nkarta news, insider Alicia J. Hager sold 3,396 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $8.00, for a total transaction of $27,168.00. Following the transaction, the insider now owns 103,819 shares in the company, valued at approximately $830,552. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nkarta

Several institutional investors have recently modified their holdings of NKTX. SG Americas Securities LLC purchased a new stake in shares of Nkarta during the 4th quarter worth approximately $72,000. Bleakley Financial Group LLC purchased a new stake in shares of Nkarta during the 4th quarter worth approximately $70,000. Simplicity Solutions LLC purchased a new stake in shares of Nkarta during the 4th quarter worth approximately $70,000. Bourgeon Capital Management LLC purchased a new stake in shares of Nkarta during the 4th quarter worth approximately $30,000. Finally, abrdn plc purchased a new stake in shares of Nkarta during the 4th quarter worth approximately $191,000. Hedge funds and other 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.