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Can Nkarta Inc (NASDAQ:NKTX) Stock Be A Good Mid-Term Investment?

Nkarta Inc (NASDAQ:NKTX) price closed higher on Monday, February 12, jumping 1.80% above its previous close.

A look at the daily price movement shows that the last close reads $11.11. The company’s 5Y monthly beta was ticking 0.64. Taking into account the 52-week price action we note that the stock hit a 52-week high of $11.62 and 52-week low of $1.28. The stock added 16.48% on its value in the past month.

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Nkarta Inc, which has a market valuation of $554.98 million, is expected to release its quarterly earnings report Mar 14, 2024 – Mar 18, 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give NKTX a short term outlook of 100% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Buy, while an average of long term indicators are currently assigning the stock as 100% Buy.

The overview shows that NKTX’s price is at present 22.75% off the SMA20 and 72.67% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 67.89, with weekly volatility standing at 8.83%. The indicator jumps to 10.69% when calculated based on the past 30 days. Nkarta Inc (NASDAQ:NKTX)’s beta value is holding at 0.68, while the average true range (ATR) indicator is currently reading 0.95.

Turning out attention to how the Nkarta Inc stock has performed in comparison to its peers in the industry, here’s what we find: NKTX’s stock is 1.80% on the day and 108.67% in the past 12 months, while Bristol Myers Squibb Co. (BMY) traded -0.12%% in the last session and was positioned -32.01% down on its price 12 months ago. Turning out attention to how the Nkarta Inc stock has performed in comparison to its peers in the industry, here’s what we find: NKTX’s stock is 1.80% on the day and 108.67% in the past 12 months, while Bristol Myers Squibb Co. (BMY) traded -0.12%% in the last session and was positioned -32.01% down on its price 12 months ago. Another comparison is with Gilead Sciences Inc. (GILD) whose stock price was up 1.06%% in the last trading session, and has flourished -14.90% over the past year. Also, CRISPR Therapeutics AG (CRSP) showed up trend of 9.18%% while its price kept floating at 48.40% over the past year.

An analysis of the Nkarta Inc (NASDAQ:NKTX) stock in terms of its daily trading volume indicates that the 3-month average is 0.55. However, this figure increases on the past 10-day timeline to an average of 0.97 million.

Current records show that the company has 48.88M in outstanding shares. The insiders’ percentage holdings are 39.21% of outstanding shares while the percentage share held by institutions stands at 69.76%. The stats also highlight that short interest as of Jan 31, 2024, stood at 3.84 million shares, which puts the short ratio at the time at 0.9. From this we can glean that short interest is 7.82% of company’s current outstanding shares. Notably, we see that shares short in January fall slightly given the previous month’s figure stood at 5.86 million. But the 71.36% upside, the stock’s price has registered year-to-date as of last trading, will likely reignite investor interest given the prospect of it rallying even higher.