Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nkarta Inc shares valued at $30,000,000 were purchased by RA CAPITAL MANAGEMENT, L.P. on Mar 27 ’24. At $10.00 per share, RA CAPITAL MANAGEMENT, L.P. acquired 3,000,000 shares. The insider’s holdings grew to 10,050,818 shares worth approximately $75.28 million following the completion of this transaction.
Also, George Simeon purchased 2,000,000 shares, netting a total of over 20,000,000 in proceeds. Following the buying of shares at $10.00 each, the insider now holds 1,548,341 shares.
Before that, Brandenberger Ralph had sold 8,367 shares from its account. In a trade valued at $104,671, the Chief Technical Officer traded Nkarta Inc shares for $12.51 each. Upon closing the transaction, the insider’s holdings decreased to 8,367 shares, worth approximately $0.6 million.
As published in a research note from Raymond James on March 22, 2024, Nkarta Inc [NKTX] has been rated down from a Strong buy to an Outperform and the price target has been revised to $16 from $13. Analysts at Oppenheimer downgraded the stock from ‘”an Outperform”‘ to ‘”a Perform”‘ outlook in a report released in late December. As of October 10, 2022, Canaccord Genuity has initiated its “Buy” rating for NKTX. Earlier on July 28, 2022, Needham initiated its rating. Their recommendation was “a Buy” for NKTX stock.
Analyzing NKTX Stock Performance
During the last five days, there has been a surge of approximately 4.46%. Over the course of the year, Nkarta Inc shares have jumped approximately 13.48%. Shares of the company reached a 52-week high of $16.24 on 03/07/24 and a 52-week low of $5.37 on 01/03/24. A 50-day SMA is recorded $10.21, while a 200-day SMA reached $5.43. Nevertheless, trading volume fell to 1.14 million shares from 0.67 million shares the previous day.
Support And Resistance Levels for Nkarta Inc (NKTX)
According to the 24-hour chart, there is a support level at 6.81, which, if violated, would cause prices to drop to 6.12. In the upper region, resistance lies at 7.97. The next price resistance is at 8.44. RSI (Relative Strength Index) is 41.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.48, which suggests the price will decrease in the coming days. Percent R is at 61.36%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
