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Paul J. Hastings, the Chief Executive Officer of Nkarta, Inc. (NASDAQ:NKTX), recently sold 17,378 shares of the company's common stock. The shares were sold at an average price of $2.20 each, totaling approximately $38,231. Following this transaction, Hastings retains direct ownership of 319,859 shares in the company. The transaction comes as NKTX shares have declined over 72% in the past year, currently trading near $2.47, significantly below their 52-week high of $16.24. According to InvestingPro analysis, the stock appears undervalued at current levels.
The sale was conducted to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units, as required by the applicable award terms. This transaction does not represent a discretionary action by Hastings. While the company faces challenges, InvestingPro data shows NKTX maintains a strong balance sheet with more cash than debt and a healthy current ratio of 12.9x. Subscribers can access 8 additional ProTips and a comprehensive analysis in the Pro Research Report.
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