Nkarta (NASDAQ:NKTX) Shares Down 5% – What’s Next?

Nkarta, Inc. (NASDAQ:NKTX)’s share price was down 5% during trading on Tuesday . The company traded as low as $2.63 and last traded at $2.65. 794,481 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 753,632 shares. The stock had previously closed at $2.79.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NKTX shares. Mizuho decreased their target price on Nkarta from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Wall Street Zen lowered shares of Nkarta from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Evercore set a $9.00 price target on shares of Nkarta in a research report on Monday, May 18th. TD Cowen started coverage on shares of Nkarta in a research note on Tuesday, June 23rd. They set a “buy” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.75.

Nkarta Stock Down 2.3%

The stock has a 50 day simple moving average of $2.92 and a 200 day simple moving average of $2.54. The company has a market cap of $186.02 million, a price-to-earnings ratio of -1.94 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. As a group, equities research analysts expect that Nkarta, Inc. will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company acquired a new stake in Nkarta during the 1st quarter valued at $30,000. Abel Hall LLC acquired a new position in Nkarta in the 4th quarter worth $27,000. Dynamic Technology Lab Private Ltd acquired a new position in Nkarta in the 4th quarter worth $37,000. Forefront Analytics LLC boosted its position in Nkarta by 41.0% in the 3rd quarter. Forefront Analytics LLC now owns 39,452 shares of the company’s stock valued at $82,000 after buying an additional 11,473 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Nkarta by 74.9% in the 1st quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock valued at $84,000 after buying an additional 17,148 shares during the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

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.