Nkarta (NASDAQ:NKTX) Price Target Cut to $10.00 by Analysts at Stifel Nicolaus

Nkarta (NASDAQ:NKTX) had its price target cut by equities researchers at Stifel Nicolaus from $11.00 to $10.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 334.78% from the company’s current price.

Several other brokerages have also weighed in on NKTX. Needham & Company LLC restated a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a report on Wednesday, May 13th. Evercore set a $9.00 target price on Nkarta in a report on Monday, May 18th. HC Wainwright dropped their price target on shares of Nkarta to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a report on Wednesday, June 24th. Finally, TD Cowen started coverage on shares of Nkarta in a research report on Tuesday, June 23rd. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nkarta currently has an average rating of “Moderate Buy” and an average target price of $11.20.

Nkarta Price Performance

Shares of NASDAQ:NKTX opened at $2.30 on Friday. The stock has a market cap of $164.73 million, a price-to-earnings ratio of -1.46 and a beta of 0.93. Nkarta has a 12 month low of $1.70 and a 12 month high of $3.72. The stock’s 50 day moving average price is $2.64 and its 200 day moving average price is $2.58.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.18). On average, sell-side analysts expect that Nkarta will post -1.51 EPS for the current year.

Institutional Investors Weigh In On Nkarta

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Nkarta during the 2nd quarter worth $17,830,000. GSK plc acquired a new stake in shares of Nkarta during the fourth quarter worth $5,829,000. Monaco Asset Management SAM raised its position in shares of Nkarta by 29.2% during the fourth quarter. Monaco Asset Management SAM now owns 2,546,932 shares of the company’s stock worth $4,712,000 after purchasing an additional 576,022 shares during the period. Renaissance Technologies LLC raised its position in shares of Nkarta by 1.8% during the first quarter. Renaissance Technologies LLC now owns 1,732,372 shares of the company’s stock worth $3,655,000 after purchasing an additional 30,350 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Nkarta by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock valued at $2,006,000 after purchasing an additional 10,065 shares during the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

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.