Nkarta (NASDAQ:NKTX) Given “Buy” Rating at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Nkarta (NASDAQ:NKTX) in a research report sent to investors on Thursday, Benzinga reports. HC Wainwright currently has a $23.00 price target on the stock.

Several other brokerages also recently commented on NKTX. Needham & Company LLC lowered their target price on shares of Nkarta from $15.00 to $13.00 and set a buy rating for the company in a report on Monday, May 13th. Mizuho decreased their price objective on Nkarta from $31.00 to $25.00 and set a buy rating for the company in a report on Friday, March 22nd. Raymond James reissued an outperform rating and set a $16.00 target price (up previously from $13.00) on shares of Nkarta in a report on Friday, March 22nd. Finally, Canaccord Genuity Group lowered their price target on shares of Nkarta from $16.00 to $15.00 and set a buy rating on the stock in a report on Friday, May 10th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $17.83.

Nkarta Stock Performance

NKTX opened at $5.86 on Thursday. The company’s fifty day moving average price is $6.54 and its two-hundred day moving average price is $8.23. Nkarta has a 1-year low of $1.28 and a 1-year high of $16.24.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). Equities analysts forecast that Nkarta will post -2.27 earnings per share for the current year.

Institutional Investors Weigh In On Nkarta

Institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. increased its stake in Nkarta by 38.4% in the 1st quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock worth $116,803,000 after purchasing an additional 3,000,000 shares during the period. SR One Capital Management LP increased its stake in shares of Nkarta by 150.0% in the first quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock worth $36,033,000 after buying an additional 2,000,000 shares during the period. Commodore Capital LP bought a new stake in Nkarta during the 4th quarter valued at $18,018,000. Wasatch Advisors LP boosted its position in Nkarta by 13.6% during the 4th quarter. Wasatch Advisors LP now owns 2,099,699 shares of the company’s stock valued at $13,858,000 after buying an additional 251,795 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Nkarta by 26.0% in the first quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock worth $21,255,000 after purchasing an additional 405,753 shares during the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

About Nkarta

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis.