Nkarta (NASDAQ:NKTX) Rating Reiterated by Needham & Company LLC

Nkarta (NASDAQ:NKTX)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $13.00 price objective on the stock. Needham & Company LLC’s target price indicates a potential upside of 121.84% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Raymond James reiterated 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. 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. Canaccord Genuity Group dropped their target price 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $23.00 price target on shares of Nkarta in a research note on Thursday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.83.

Nkarta Stock Down 1.8 %

Shares of NKTX stock opened at $5.86 on Friday. The firm has a market capitalization of $289.60 million, a price-to-earnings ratio of -2.49 and a beta of 0.87. The stock has a fifty day moving average of $6.54 and a 200 day moving average of $8.23. Nkarta has a 52 week low of $1.28 and a 52 week high of $16.24.

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

Institutional Investors Weigh In On Nkarta

Hedge funds have recently added to or reduced their stakes in the stock. RA Capital Management L.P. raised its position in shares of 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 last quarter. Commodore Capital LP bought a new stake in Nkarta during the 4th quarter valued at about $18,018,000. SR One Capital Management LP increased its stake in Nkarta by 150.0% during the 1st quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock valued at $36,033,000 after purchasing an additional 2,000,000 shares in the last quarter. Boxer Capital LLC purchased a new position in Nkarta in the fourth quarter worth about $9,504,000. Finally, Janus Henderson Group PLC bought a new position in shares of Nkarta in the first quarter worth approximately $9,072,000. 80.54% of the stock is owned by institutional investors.

Nkarta Company Profile

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.