What's Going On With Cancer Drug-Developer Nkarta Stock?

Nkarta, Inc. NKTX shares are blasting higher Monday, and the stock has gained more than 270% over the past month. Here's a look at what's going on.

What To Know:

According to documents filed with the SEC on Monday, Nkarta has updated its corporate presentation to reflect certain business and strategic updates.

Nkarta, Inc. is a biopharmaceutical company engaged in developing engineered natural killer (NK) cells to treat cancer and leverages the power of NK cells to identify and kill abnormal cells and recruit adaptive immune effectors.

Nkarta shares are moving on heavy trading volume, far exceeding its average volume with more than 41.3 million shares traded in the session. According to data from Benzinga Pro, the stock has a 100-day average volume of 2.83 million shares.

Nkarta's stock is trading well-above the stock's 50-day moving average of $3.14, and 17.7% of shares are being sold short which may be contributing to the massive move.

Related News: Why Dada Nexus Stock Is Dropping

NKTX Price Action: According to Benzinga Pro, Nkarta shares are up 80.2% at $10.92 at the time of publication.

Image: PD Pics from Pixabay