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A company insider recently sold 1,770 shares of Nkarta Inc [NKTX]. Should You Sale?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Nkarta Inc shares valued at $9,912 were sold by HASTINGS PAUL J on Jun 18 ’24. At $5.60 per share, HASTINGS PAUL J sold 1,770 shares. The insider’s holdings dropped to 240,737 shares worth approximately $1.28 million following the completion of this transaction.

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Also, Hager Alicia J. sold 727 shares, netting a total of over 4,071 in proceeds. Following the sale of shares at $5.60 each, the insider now holds 107,215 shares.

Before that, Trager James had sold 456 shares from its account. In a trade valued at $2,554, the Chief Scientific Officer traded Nkarta Inc shares for $5.60 each. Upon closing the transaction, the insider’s holdings decreased to 456 shares, worth approximately $0.8 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 drop of approximately -16.22%. Over the course of the year, Nkarta Inc shares have dropped approximately -19.77%. Shares of the company reached a 52-week high of $16.24 on 03/07/24 and a 52-week low of $5.04 on 06/20/24. A 50-day SMA is recorded $6.88, while a 200-day SMA reached $6.20. Nevertheless, trading volume fell to 0.87 million shares from 0.9 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 5.09, which, if violated, would cause prices to drop to 4.88. In the upper region, resistance lies at 5.45. The next price resistance is at 5.61. RSI (Relative Strength Index) is 28.50 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.90, which suggests the price will decrease in the coming days. Percent R is at 89.15%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

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