Nkarta (NASDAQ:NKTX) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Nkarta (NASDAQ:NKTX) from an outperform rating to a strong-buy rating in a research note published on Wednesday morning, MarketBeat reports. Raymond James currently has $16.00 target price on the stock.

Several other equities analysts have also weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Nkarta from $16.00 to $15.00 and set a buy rating on the stock in a research report on Friday, May 10th. Needham & Company LLC reaffirmed a buy rating and set a $13.00 price objective on shares of Nkarta in a research report on Friday, June 28th. Finally, HC Wainwright reiterated a buy rating and set a $23.00 price target on shares of Nkarta in a report on Wednesday, July 24th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nkarta currently has an average rating of Buy and an average target price of $18.20.

Nkarta Price Performance

NKTX traded up $0.08 during midday trading on Wednesday, hitting $5.21. 264,536 shares of the company’s stock traded hands, compared to its average volume of 1,329,251. The company has a market cap of $257.46 million, a PE ratio of -2.18 and a beta of 0.83. The stock’s fifty day simple moving average is $6.02 and its 200-day simple moving average is $8.14. Nkarta has a one year low of $1.28 and a one year high of $16.24.

Insider Buying and Selling at Nkarta

In other news, insider Alicia J. Hager sold 3,396 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.00, for a total value of $27,168.00. Following the sale, the insider now owns 103,819 shares in the company, valued at $830,552. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Nkarta

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC boosted its stake in Nkarta by 22.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,226 shares of the company’s stock worth $94,000 after buying an additional 2,613 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Nkarta during the second quarter valued at $26,000. GAMMA Investing LLC lifted its holdings in shares of Nkarta by 1,887.0% during the second quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock valued at $28,000 after acquiring an additional 4,491 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Nkarta by 49.2% during the first quarter. Bleakley Financial Group LLC now owns 15,827 shares of the company’s stock valued at $171,000 after acquiring an additional 5,219 shares during the period. Finally, Simplicity Solutions LLC bought a new position in shares of Nkarta during the fourth quarter valued at $70,000. Institutional investors and hedge funds 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.