Nkarta (NASDAQ:NKTX) Upgraded to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Nkarta (NASDAQ:NKTX) from a strong sell rating to a sell rating in a research report released on Sunday.

Several other research firms also recently commented on NKTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Nkarta in a report on Wednesday, May 13th. Evercore set a $9.00 price objective on Nkarta in a research note on Monday, May 18th. Finally, TD Cowen assumed coverage on shares of Nkarta in a report on Tuesday, June 23rd. They issued a “buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Nkarta presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.

Nkarta Stock Performance

Shares of NASDAQ NKTX opened at $2.09 on Friday. The company has a market cap of $149.53 million, a price-to-earnings ratio of -1.56 and a beta of 0.90. Nkarta has a 12 month low of $1.70 and a 12 month high of $3.72. The stock has a 50-day moving average price of $2.77 and a two-hundred day moving average price of $2.57.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. On average, sell-side analysts predict that Nkarta will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On Nkarta

A number of institutional investors have recently modified their holdings of the company. Abel Hall LLC bought a new position in shares of Nkarta in the fourth quarter valued at $27,000. The Manufacturers Life Insurance Company bought a new stake in shares of Nkarta during the first quarter worth about $30,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nkarta during the fourth quarter worth about $37,000. Sei Investments Co. raised its holdings in shares of Nkarta by 74.9% in the 1st quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock worth $84,000 after acquiring an additional 17,148 shares during the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Nkarta by 45.8% in the 4th quarter. Wells Fargo & Company MN now owns 47,997 shares of the company’s stock worth $89,000 after acquiring an additional 15,079 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.