Nkarta, Inc. (NASDAQ:NKTX) shares were up 7.5% during mid-day trading 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.
Several analysts have recently issued reports on NKTX shares. Mizuho reiterated a “buy” rating and set a $81.00 price target on shares of Nkarta in a research note on Wednesday, June 16th. Cantor Fitzgerald upped their price target on Nkarta from $71.00 to $78.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 29th. Zacks Investment Research upgraded Nkarta from a “sell” rating to a “hold” rating in a research note on Thursday, August 19th. Finally, Oppenheimer initiated coverage on Nkarta in a research note on Thursday, July 15th. They set an “outperform” rating and a $75.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Nkarta presently has a consensus rating of “Buy” and an average price target of $76.00.
The firm has a 50 day moving average of $32.23 and a two-hundred day moving average of $32.23. The stock has a market cap of $981.62 million, a P/E ratio of -12.96 and a beta of 1.03.
In other Nkarta news, CEO Paul J. Hastings sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, June 21st. The stock was sold at an average price of $26.61, for a total value of $226,185.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kanya Rajangam sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $37.28, for a total value of $372,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,140 shares of company stock valued at $937,911. 12.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Nkarta during the 1st quarter valued at $31,000. The Manufacturers Life Insurance Company increased its holdings in Nkarta by 16.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 11,486 shares of the company’s stock valued at $378,000 after purchasing an additional 1,642 shares in the last quarter. Rhumbline Advisers increased its holdings in Nkarta by 12.2% during the 1st quarter. Rhumbline Advisers now owns 20,870 shares of the company’s stock valued at $687,000 after purchasing an additional 2,273 shares in the last quarter. The PNC Financial Services Group Inc. acquired a new stake in Nkarta during the 1st quarter valued at $162,000. Finally, Swiss National Bank increased its holdings in Nkarta by 25.7% during the 1st quarter. Swiss National Bank now owns 18,600 shares of the company’s stock valued at $612,000 after purchasing an additional 3,800 shares in the last quarter. 73.30% of the stock is owned by institutional investors and hedge funds.
Nkarta Company Profile (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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