Adage Capital Management LP recently announced the acquisition of new stake in Nkarta Inc (NASDAQ:NKTX). The institutional investor has increased its shareholding in the Healthcare company by 2,556.14% to 3.7 million shares with purchase of 3.56 million shares. This fresh investment now brings its stake to 7.54% valued currently at $9.77 million. In addition, Deerfield Management Co. LP raised its holdings by 1.98 million to 3.4 million shares.
With over 45.94 million Nkarta Inc (NKTX) shares trading Monday and a closing price of $10.73 on the day, the dollar volume was approximately $492.96 million. The shares have shown a positive half year performance of 415.87% and its price on 01/08/24 gained nearly 77.06%. Currently, there are 48.88M common shares owned by the public and among those 37.51M shares have been available to trade.
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Insiders at the company have transacted a total of 19 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 235,500 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 13,058 shares.
The top 3 mutual fund holders in Nkarta Inc are T Rowe Price Small Cap Value Fund, Wasatch Ultra Growth Fund, and T Rowe Price Small Cap Stock Fund. T Rowe Price Small Cap Value Fund owns 1.16 million shares of the company’s stock, all valued at over $3.08 million. The company sold -0.48 million shares recently to bring their total holdings to about 2.37% of the shares outstanding. Wasatch Ultra Growth Fund sold -0.64 million shares to see its total holdings shrink to 1.12 million shares valued at over $2.96 million and representing 2.28% of the shares outstanding. T Rowe Price Small Cap Stock Fund sold 1400.0 shares to bring its total holdings to over 0.96 million shares at a value of $2.53 million. T Rowe Price Small Cap Stock Fund now owns shares totaling to 1.95% of the shares outstanding.
Shares of Nkarta Inc (NASDAQ: NKTX) opened at $5.99, down -$0.07 from a prior closing price of $6.06. However, the script later moved the day high at 11.23, up 77.06%. The company’s stock has a 5-day price change of 62.58% and 694.81% over the past three months. NKTX shares are trading 62.58% year to date (YTD), with the 12-month market performance up to 71.68% higher. It has a 12-month low price of $1.28 and touched a high of $7.05 over the same period. NKTX has an average intraday trading volume of 2.87 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 147.76%, 242.21%, and 253.61% respectively.
Institutional ownership of Nkarta Inc (NASDAQ: NKTX) shares accounts for 70.48% of the company’s 48.88M shares outstanding. Mutual fund holders own 21.66%, while other institutional holders and individual stakeholders account for 48.82% and 17.30% respectively.
It has a market capitalization of $526.52M and a beta (3y monthly) value of 0.64. The earnings-per-share (ttm) stands at -$2.50. Price movements for the stock have been influenced by the stock’s volatility, which stands at 29.71% over the week and 16.35% over the month.
Analysts forecast that Nkarta Inc (NKTX) will achieve an EPS of -$0.55 for the current quarter, -$0.6 for the next quarter and -$2.37 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.69 while analysts give the company a high EPS estimate of -$0.41. Comparatively, EPS for the current quarter was -$0.67 a year ago. Earnings per share for the fiscal year are expected to increase by 8.78%, and 3.90% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Nkarta Inc (NKTX) as a “Strong Buy” at a consensus score of 1.00. Specifically, 9 Wall Street analysts polled rate the stock as a buy, while 0 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
