Nkarta, Inc. (NASDAQ:NKTX) Sees Large Drop in Short Interest

by · The Markets Daily

Nkarta, Inc. (NASDAQ:NKTX – Get Free Report) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 6,020,166 shares, a decrease of 44.5% from the December 15th total of 10,850,709 shares. Based on an average daily trading volume, of 669,661 shares, the short-interest ratio is currently 9.0 days. Currently, 9.3% of the company’s stock are short sold. Currently, 9.3% of the company’s stock are short sold. Based on an average daily trading volume, of 669,661 shares, the short-interest ratio is currently 9.0 days.

Hedge Funds Weigh In On Nkarta

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. lifted its stake in shares of Nkarta by 478.4% in the 1st quarter. Invesco Ltd. now owns 69,396 shares of the company’s stock worth $128,000 after acquiring an additional 57,399 shares during the period. AQR Capital Management LLC lifted its position in Nkarta by 300.5% in the first quarter. AQR Capital Management LLC now owns 672,078 shares of the company’s stock valued at $1,237,000 after purchasing an additional 504,272 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Nkarta by 13.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 681,068 shares of the company’s stock valued at $1,253,000 after purchasing an additional 80,211 shares in the last quarter. Jane Street Group LLC increased its position in Nkarta by 118.7% during the 1st quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock worth $247,000 after purchasing an additional 852,559 shares during the period. Finally, CWM LLC increased its position in Nkarta by 23.4% during the 2nd quarter. CWM LLC now owns 34,758 shares of the company’s stock worth $58,000 after purchasing an additional 6,601 shares during the period. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on NKTX. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research note on Monday, December 29th. Wall Street Zen upgraded Nkarta from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Stifel Nicolaus cut their price target on Nkarta from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

View Our Latest Report on NKTX

Nkarta Price Performance

Shares of NASDAQ:NKTX traded up $0.08 on Friday, reaching $2.04. The company’s stock had a trading volume of 964,985 shares, compared to its average volume of 689,064. Nkarta has a 52-week low of $1.31 and a 52-week high of $2.74. The stock’s 50-day moving average is $1.88 and its two-hundred day moving average is $2.02.

Nkarta (NASDAQ:NKTX – Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.03. On average, analysts predict that Nkarta will post -1.7 EPS for the current year.

Nkarta Company Profile

(Get Free Report)

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.

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