Nkarta, Inc. (NASDAQ:NKTX) Given Average Recommendation of “Hold” by Brokerages

Nkarta, Inc. (NASDAQ:NKTX) has been assigned a consensus recommendation of “Hold” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $11.3333.

NKTX has been the topic of a number of recent research reports. Wall Street Zen lowered Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Mizuho lowered their price objective on Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research note on Friday, March 27th. Finally, Needham & Company LLC raised their price objective on Nkarta from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, March 26th.

Hedge Funds Weigh In On Nkarta

A number of hedge funds have recently added to or reduced their stakes in NKTX. GSK plc bought a new position in Nkarta during the 4th quarter worth $5,829,000. Jane Street Group LLC increased its stake in Nkarta by 118.7% during the 1st quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock worth $247,000 after acquiring an additional 852,559 shares during the period. Millennium Management LLC bought a new position in Nkarta during the 3rd quarter worth $1,549,000. Monaco Asset Management SAM increased its stake in Nkarta by 29.2% during the 4th quarter. Monaco Asset Management SAM now owns 2,546,932 shares of the company’s stock worth $4,712,000 after acquiring an additional 576,022 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Nkarta by 48.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,702,022 shares of the company’s stock valued at $3,149,000 after purchasing an additional 556,945 shares during the last quarter. Institutional investors own 80.54% of the company’s stock.

Nkarta Trading Up 2.0%

NASDAQ:NKTX opened at $3.08 on Friday. The stock has a market cap of $219.57 million, a P/E ratio of -2.20 and a beta of 0.88. The stock has a 50 day simple moving average of $2.50 and a 200 day simple moving average of $2.19. Nkarta has a 1-year low of $1.63 and a 1-year high of $3.65.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings results on Wednesday, March 25th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). As a group, sell-side analysts forecast that Nkarta will post -1.51 EPS for the current year.

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.