NKTX running out of steamAs evident, NKTX is firmly away from the nice bull channel it had found itself in, seems to be losing grip of support, and is in danger of falling into a pretty steep down channel. My short thesis is that the gravity of the situation is too much, and it will break. Stop are above Friday's high.
NKTX trade ideas
Nkarta to 15$NASDAQ:NKTX
Looking like a technical reversal on the daily chart - MACD, TTM, and MACD look very resilient after a selloff.
Analysts set price targets at 15$, indicators seem to match up with this. Earnings in 17 days and mid-year treatment trials could be catalysts to move the price towards this target. Earlier results were promising.
Make sure to manage your R:R and size appropriately. Tell me what you think about this setup in the comments.
NKTX: A technical perspectiveNASDAQ:NKTX is a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. While highly speculative, the daily charts have presented a purchasing opportunity after a stock offering to raise capital.
MACD and TTM Squeeze tend to be reversing, and selling pressure seems to slow. I expect price to bounce off of the critical support level around 8.47. A price below 8.47 justifies a premium valuation of the underlying.
Short-term price action appears to be slightly bearish, but the conditions are right for a reversal. Biotechnology stocks tend to be highly volatile, make sure to manage your risk correctly before making a trade. My R:R ratio is around 5:1 with a SL at 8.08.
NKTX | Oversold Healthcare Play | LONGNkarta, Inc., a a clinical-stage biopharmaceutical company, develops and commercializes cell therapies for cancer treatment. The company's approach for cellular immunotherapy involves chimeric antigen receptors on the surface of a natural killer (NK) cell that enable the cell to recognize specific proteins or antigens that are present on the surface of tumor cells. Its two co-lead product candidates are NKX101, which is in Phase I clinical trials for the treatment of relapsed/refractory acute myeloid leukemia or higher risk myelodysplastic syndromes; and NKX019, a pre-clinical product, which is based on the ability to treat various B cell malignancies by targeting the CD19 antigen found on these types of cancerous cells. The company has a research collaboration agreement with CRISPR Therapeutics AG. Nkarta, Inc. was incorporated in 2015 and is based in South San Francisco, California.
NKTX LONG SET UPNKTX LONG SET UP
Sector: Health Technology
Industry: Biotechnology
Employees: ---
Nkarta, Inc. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of natural killer cell therapies for the treatment of cancer. The company was founded by Dario Campana in 2005 and is headquartered in South San Francisco, CA.
Top 10% Owner Trading Recent Week Filter
Buy Transactions
Ticker Owner Relationship Date Transaction Cost #Shares Value ($) #Shares Total SEC Form 4
NKTX RA CAPITAL MANAGEMENT, L.P. 10% Owner Jul 14 Buy 18.00 3,333,333 59,999,994 5,605,129 Jul 16 04:30 PM
NKTX Florence Anthony A. Jr. 10% Owner Jul 14 Buy 18.00 666,666 11,999,988 2,902,115 Jul 16 05:00 PM
NKTX MAKOWER JOSHUA 10% Owner Jul 14 Buy 18.00 666,666 11,999,988 2,902,115 Jul 16 05:00 PM
NKTX BASKETT FOREST 10% Owner Jul 14 Buy 18.00 666,666 11,999,988 2,902,115 Jul 16 05:00 PM
NKTX Makhzoumi Mohamad 10% Owner Jul 14 Buy 18.00 666,666 11,999,988 2,902,115 Jul 16 05:00 PM
NKTX Sonsini Peter W. 10% Owner Jul 14 Buy 18.00 666,666 11,999,988 2,902,115 Jul 16 05:00 PM
NKTX SANDELL SCOTT D 10% Owner Jul 14 Buy 18.00 666,666 11,999,988 2,902,115 Jul 16 05:00 PM
NKTX New Enterprise Associates 15, 10% Owner Jul 14 Buy 18.00 666,666 11,999,988 2,902,115 Jul 16 05:00 PM
NKTX Novo Holdings A/S 10% Owner Jul 14 Buy 18.00 555,555 9,999,990 2,793,865 Jul 16 04:41 PM