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Raymond James Upgrades Nkarta Inc (NKTX) to a Strong buy from an Outperform

Nkarta Inc’s recently made public that its Chief Legal Officer Hager Alicia J. unloaded Company’s shares for reported $27168.0 on Jul 16 ’24. In the deal valued at $8.00 per share,3,396 shares were sold. As a result of this transaction, Hager Alicia J. now holds 103,819 shares worth roughly $0.54 million.

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Then, Trager James sold 456 shares, generating $2,554 in total proceeds. Upon selling the shares at $5.60, the Chief Scientific Officer now owns 150,959 shares.

Before that, HASTINGS PAUL J sold 1,770 shares. Nkarta Inc shares valued at $9,912 were divested by the Chief Executive Officer at a price of $5.60 per share. As a result of the transaction, HASTINGS PAUL J now holds 240,737 shares, worth roughly $1.25 million.

Raymond James upgraded its Nkarta Inc [NKTX] rating to a Strong buy from a an Outperform in a research note published recently. A number of analysts have revised their coverage, including Raymond James’s analysts, who decreased its forecast for the stock in late March from “a Strong buy” to “an Outperform”. Oppenheimer also remained covering NKTX and has decreased its forecast on December 22, 2022 with a “Perform” recommendation from previously “an Outperform” rating. Canaccord Genuity started covering the stock on October 10, 2022. It rated NKTX as “a Buy”.

Price Performance Review of NKTX

On Friday, Nkarta Inc [NASDAQ:NKTX] saw its stock fall -3.16% to $5.21. Over the last five days, the stock has lost -8.76%. Nkarta Inc shares have fallen nearly -21.06% since the year began. Nevertheless, the stocks have risen 208.28% over the past one year. While a 52-week high of $16.24 was reached on 03/07/24, a 52-week low of $1.28 was recorded on 08/16/24. SMA at 50 days reached $5.82, while 200 days put it at $7.42.

Levels Of Support And Resistance For NKTX Stock

The 24-hour chart illustrates a support level at 5.13, which if violated will result in even more drops to 5.05. On the upside, there is a resistance level at 5.34. A further resistance level may holdings at 5.48. The Relative Strength Index (RSI) on the 14-day chart is 44.23, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.17%. Stochastics %K at 17.54% indicates the stock is a buying.

How much short interest is there in Nkarta Inc?

A steep rise in short interest was recorded in Nkarta Inc stocks on 2024-08-30, growing by 1.22 million shares to a total of 8.35 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 7.13 million shares. There was a rise of 14.6%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on July 28, 2022 when Needham began covering the stock and recommended ‘”a Buy”‘ rating along with a $26 price target.

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