Nkarta, Inc. (NASDAQ:NKTX) Receives $11.20 Consensus Price Target from Brokerages

Nkarta, Inc. (NASDAQ:NKTX) has earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $11.20.

Several research firms have recently weighed in on NKTX. Wall Street Zen cut Nkarta from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a report on Wednesday, May 13th. TD Cowen assumed coverage on Nkarta in a research report on Tuesday, June 23rd. They set a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a report on Wednesday, June 24th. Finally, Stifel Nicolaus dropped their target price on Nkarta from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 14th.

Hedge Funds Weigh In On Nkarta

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Nkarta during the second quarter valued at approximately $17,830,000. GSK plc bought a new position in Nkarta in the fourth quarter worth approximately $5,829,000. Monaco Asset Management SAM bought a new position in Nkarta in the second quarter worth approximately $6,717,000. AWM Investment Company Inc. purchased a new position in shares of Nkarta during the 2nd quarter worth $2,564,000. Finally, Jane Street Group LLC boosted its stake in shares of 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 last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Nkarta Price Performance

Shares of NASDAQ:NKTX opened at $2.92 on Thursday. The business has a fifty day moving average price of $2.61 and a 200-day moving average price of $2.63. The company has a market capitalization of $209.13 million, a PE ratio of -1.86 and a beta of 0.97. Nkarta has a 1-year low of $1.70 and a 1-year high of $3.72.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.18). On average, sell-side analysts anticipate that Nkarta will post -1.6 earnings per share for the current fiscal 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.