JPMorgan Chase & Co. Increases Stock Position in Nkarta, Inc. (NASDAQ:NKTX)

JPMorgan Chase & Co. raised its stake in shares of Nkarta, Inc. (NASDAQ:NKTX) by 138.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,537,922 shares of the company’s stock after acquiring an additional 1,474,560 shares during the period. JPMorgan Chase & Co.’s holdings in Nkarta were worth $6,319,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NKTX. Geode Capital Management LLC grew its holdings in Nkarta by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,171,026 shares of the company’s stock valued at $5,294,000 after buying an additional 33,927 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Nkarta in the third quarter valued at $151,000. FMR LLC increased its position in Nkarta by 97.1% in the third quarter. FMR LLC now owns 133,149 shares of the company’s stock worth $602,000 after purchasing an additional 65,600 shares during the last quarter. State Street Corp raised its stake in Nkarta by 1.4% during the third quarter. State Street Corp now owns 1,098,062 shares of the company’s stock valued at $4,963,000 after purchasing an additional 15,569 shares in the last quarter. Finally, Barclays PLC lifted its position in Nkarta by 161.4% during the third quarter. Barclays PLC now owns 232,566 shares of the company’s stock valued at $1,051,000 after purchasing an additional 143,608 shares during the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NKTX. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Nkarta in a research report on Thursday, March 27th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Nkarta in a research report on Wednesday, April 9th. Finally, Stifel Nicolaus dropped their target price on Nkarta from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Six research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $14.86.

Nkarta Stock Up 3.4 %

NKTX opened at $1.81 on Friday. The business has a fifty day moving average of $1.77 and a 200 day moving average of $2.49. Nkarta, Inc. has a 52-week low of $1.31 and a 52-week high of $8.33. The stock has a market cap of $128.43 million, a P/E ratio of -0.96 and a beta of 0.83.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings results on Wednesday, March 26th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.06. Equities analysts anticipate that Nkarta, Inc. will post -1.7 EPS for the current fiscal year.

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.