Insider Selling: Nkarta, Inc. (NASDAQ:NKTX) CEO Sells $38,231.60 in Stock

Nkarta, Inc. (NASDAQ:NKTX) CEO Paul J. Hastings sold 17,378 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total transaction of $38,231.60. Following the completion of the sale, the chief executive officer now owns 319,859 shares in the company, valued at $703,689.80. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nkarta Trading Down 0.8 %

Shares of NASDAQ NKTX opened at $2.47 on Monday. The stock has a market cap of $174.31 million, a price-to-earnings ratio of -1.31 and a beta of 0.85. The stock’s 50-day moving average is $2.52 and its 200 day moving average is $4.18. Nkarta, Inc. has a 1-year low of $2.08 and a 1-year high of $16.24.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NKTX. Erste Asset Management GmbH purchased a new stake in shares of Nkarta in the 3rd quarter valued at $33,000. GAMMA Investing LLC lifted its stake in Nkarta by 110.9% in the third quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock worth $45,000 after purchasing an additional 5,243 shares during the last quarter. Forefront Analytics LLC purchased a new stake in Nkarta during the second quarter valued at about $70,000. Intech Investment Management LLC bought a new position in shares of Nkarta during the third quarter valued at about $74,000. Finally, SG Americas Securities LLC purchased a new position in shares of Nkarta in the third quarter worth about $93,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC decreased their price target on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Rodman & Renshaw initiated coverage on Nkarta in a research note on Wednesday, October 9th. They issued a “buy” rating and a $14.00 target price on the stock. Mizuho dropped their price target on Nkarta from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. HC Wainwright decreased their price objective on shares of Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Finally, RODMAN&RENSHAW upgraded shares of Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Nkarta has a consensus rating of “Buy” and an average price target of $15.00.

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.