Oppenheimer downgraded shares of Nkarta (NASDAQ:NKTX – Get Rating) from an outperform rating to a market perform rating in a research note released on Thursday morning, Marketbeat reports.
A number of other research analysts have also weighed in on NKTX. Cantor Fitzgerald reaffirmed an overweight rating on shares of Nkarta in a research note on Wednesday, September 21st. Canaccord Genuity Group began coverage on shares of Nkarta in a report on Monday, October 10th. They issued a buy rating and a $25.00 price objective on the stock. Mizuho lowered their price objective on shares of Nkarta from $81.00 to $26.00 and set a buy rating on the stock in a report on Wednesday, November 16th. Finally, Canaccord Genuity Group began coverage on shares of Nkarta in a report on Monday, October 10th. They issued a buy rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $29.90.
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Nkarta Stock Performance
Shares of NKTX opened at $5.54 on Thursday. Nkarta has a twelve month low of $5.22 and a twelve month high of $20.35. The firm's 50 day moving average price is $9.73 and its two-hundred day moving average price is $12.45. The firm has a market cap of $270.41 million, a P/E ratio of -2.07 and a beta of -0.06.
Insider Buying and Selling
In other Nkarta news, CEO Paul J. Hastings sold 23,376 shares of Nkarta stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $13.03, for a total transaction of $304,589.28. Following the completion of the transaction, the chief executive officer now directly owns 250,959 shares of the company's stock, valued at $3,269,995.77. The transaction was disclosed in a document filed with the SEC, which is available at
the SEC website. 5.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Nkarta
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKTX. Parkwood LLC bought a new stake in shares of Nkarta in the second quarter valued at about $31,000. Quantbot Technologies LP boosted its position in shares of Nkarta by 39.1% in the first quarter. Quantbot Technologies LP now owns 3,200 shares of the company's stock valued at $36,000 after acquiring an additional 900 shares during the period. Denali Advisors LLC bought a new stake in shares of Nkarta in the second quarter valued at about $38,000. Point72 Hong Kong Ltd bought a new stake in shares of Nkarta in the third quarter valued at about $46,000. Finally, Federated Hermes Inc. boosted its position in shares of Nkarta by 735.3% in the first quarter. Federated Hermes Inc. now owns 4,711 shares of the company's stock valued at $54,000 after acquiring an additional 4,147 shares during the period. 87.22% of the stock is owned by institutional investors.
About Nkarta
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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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