Nkarta (NASDAQ:NKTX) Stock Rating Upgraded by Wall Street Zen

Nkarta (NASDAQ:NKTX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

NKTX has been the topic of several other reports. Weiss Ratings restated a “sell (e+)” rating on shares of Nkarta in a research note on Monday, December 15th. Stifel Nicolaus reduced their price target on shares of Nkarta from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.25.

Nkarta Stock Up 1.7%

Shares of Nkarta stock opened at $1.79 on Friday. The business has a 50-day moving average price of $1.99 and a 200 day moving average price of $2.01. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $2.74. The firm has a market cap of $127.14 million, a P/E ratio of -1.30 and a beta of 0.80.

Nkarta (NASDAQ:NKTX) last released its earnings results on Monday, November 10th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.03. As a group, equities research analysts anticipate that Nkarta will post -1.7 earnings per share for the current year.

Institutional Investors Weigh In On Nkarta

Hedge funds have recently added to or reduced their stakes in the stock. Savant Capital LLC acquired a new position in shares of Nkarta during the second quarter valued at $36,000. SG Americas Securities LLC lifted its position in Nkarta by 35.0% in the 3rd quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock valued at $49,000 after purchasing an additional 6,141 shares during the last quarter. CWM LLC boosted its stake in Nkarta by 23.4% during the 2nd quarter. CWM LLC now owns 34,758 shares of the company’s stock valued at $58,000 after purchasing an additional 6,601 shares during the period. Bailard Inc. bought a new position in Nkarta in the 3rd quarter worth about $61,000. Finally, Forefront Wealth Partners LLC bought a new position in Nkarta in the 3rd quarter worth about $82,000. 80.54% of the stock is currently owned by institutional investors.

About Nkarta

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.