Nkarta (NASDAQ:NKTX) Coverage Initiated at Rodman & Renshaw

Equities research analysts at Rodman & Renshaw initiated coverage on shares of Nkarta (NASDAQ:NKTX) in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $14.00 price target on the stock. Rodman & Renshaw’s price target suggests a potential upside of 277.36% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Raymond James upgraded shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 target price on shares of Nkarta in a report on Wednesday, August 14th. Finally, HC Wainwright cut their target price on shares of Nkarta from $23.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Nkarta currently has an average rating of “Buy” and a consensus price target of $17.50.

Nkarta Trading Down 5.8 %

NKTX stock opened at $3.71 on Wednesday. The firm has a 50 day moving average of $5.08 and a 200 day moving average of $6.36. Nkarta has a 52 week low of $1.45 and a 52 week high of $16.24.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.15. As a group, analysts predict that Nkarta will post -1.92 EPS for the current fiscal year.

Insider Transactions at Nkarta

In other news, insider Alicia J. Hager sold 3,396 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $8.00, for a total transaction of $27,168.00. Following the completion of the sale, the insider now owns 103,819 shares of the company’s stock, valued at $830,552. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Nkarta

A number of large investors have recently modified their holdings of the business. RA Capital Management L.P. boosted its position in shares of Nkarta by 38.4% during the 1st quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock valued at $116,803,000 after acquiring an additional 3,000,000 shares during the last quarter. Commodore Capital LP acquired a new position in shares of Nkarta during the 4th quarter valued at about $18,018,000. SR One Capital Management LP boosted its position in shares of Nkarta by 150.0% during the 1st quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock valued at $36,033,000 after acquiring an additional 2,000,000 shares during the last quarter. Boxer Capital LLC acquired a new position in shares of Nkarta during the 4th quarter valued at about $9,504,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Nkarta during the 1st quarter valued at about $9,072,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

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.