Analysts Set Nkarta, Inc. (NASDAQ:NKTX) PT at $11.20

Nkarta, Inc. (NASDAQ:NKTX) has received an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $11.20.

Several equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Nkarta in a research report on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. Stifel Nicolaus lowered their price target on shares of Nkarta from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, August 14th. HC Wainwright cut their price objective on shares of Nkarta to $14.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, Wall Street Zen cut shares of Nkarta from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th.

Nkarta Stock Down 9.9%

NASDAQ NKTX opened at $2.91 on Thursday. The company has a market cap of $208.41 million, a PE ratio of -1.85 and a beta of 0.97. The firm’s 50-day simple moving average is $2.63 and its two-hundred day simple moving average is $2.65. Nkarta has a 52 week low of $1.70 and a 52 week high of $3.72.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.18). As a group, equities research analysts anticipate that Nkarta will post -1.6 EPS for the current year.

Institutional Investors Weigh In On Nkarta

Large investors have recently added to or reduced their stakes in the business. Abel Hall LLC bought a new position in shares of Nkarta in the fourth quarter worth approximately $27,000. The Manufacturers Life Insurance Company bought a new stake in shares of Nkarta during the 1st quarter worth $30,000. Susquehanna Fundamental Investments LLC purchased a new position in Nkarta in the second quarter worth $30,000. Pallas Capital Advisors LLC bought a new position in Nkarta in the second quarter valued at $31,000. Finally, Spark Investment Management LLC bought a new stake in Nkarta during the second quarter worth about $33,000. Institutional investors own 80.54% of the company’s stock.

Nkarta Company Profile

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.