Nkarta, Inc. (NASDAQ:NKTX) Director Acquires $20,000,000.00 in Stock

Nkarta, Inc. (NASDAQ:NKTX) Director Simeon George acquired 2,000,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were purchased at an average price of $10.00 per share, for a total transaction of $20,000,000.00. Following the completion of the purchase, the director now directly owns 1,548,341 shares in the company, valued at $15,483,410. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Nkarta Stock Performance

Shares of NASDAQ NKTX traded down $0.28 during trading on Thursday, hitting $10.81. 1,186,078 shares of the company traded hands, compared to its average volume of 2,135,956. The firm has a market capitalization of $534.23 million, a price-to-earnings ratio of -4.47 and a beta of 0.73. The business’s fifty day moving average is $10.86 and its 200 day moving average is $5.91. Nkarta, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $16.24.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Thursday, March 21st. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.05. On average, analysts predict that Nkarta, Inc. will post -2.33 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Sei Investments Co. purchased a new position in shares of Nkarta in the 2nd quarter worth about $27,000. Natixis purchased a new position in Nkarta in the fourth quarter valued at about $28,000. Advisor Group Holdings Inc. grew its position in shares of Nkarta by 13,661.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 4,954 shares of the company’s stock valued at $29,000 after acquiring an additional 4,918 shares during the period. Bourgeon Capital Management LLC purchased a new stake in shares of Nkarta during the 4th quarter worth approximately $30,000. Finally, American Century Companies Inc. raised its holdings in shares of Nkarta by 59.9% in the 3rd quarter. American Century Companies Inc. now owns 21,817 shares of the company’s stock worth $30,000 after purchasing an additional 8,177 shares during the period. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NKTX shares. Raymond James reissued an “outperform” rating and set a $16.00 price target (up previously from $13.00) on shares of Nkarta in a research report on Friday, March 22nd. Canaccord Genuity Group increased their target price on shares of Nkarta from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday. HC Wainwright reduced their price target on Nkarta from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Nkarta in a research report on Friday, March 22nd. Finally, Mizuho dropped their price target on Nkarta from $31.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $17.83.

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.