Nkarta, Inc. (NASDAQ:NKTX) Receives $17.50 Average PT from Analysts

Nkarta, Inc. (NASDAQ:NKTX) has been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.50.

A number of research analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $13.00 price objective on shares of Nkarta in a research report on Wednesday, August 14th. HC Wainwright dropped their target price on shares of Nkarta from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Rodman & Renshaw started coverage on shares of Nkarta in a report on Wednesday, October 9th. They set a “buy” rating and a $14.00 target price on the stock. Raymond James upgraded shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a report on Wednesday, August 14th. Finally, RODMAN&RENSHAW upgraded shares of Nkarta to a “strong-buy” rating in a report on Wednesday, October 9th.

Institutional Investors Weigh In On Nkarta

A number of institutional investors and hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new position in shares of Nkarta during the 2nd quarter worth about $26,000. GAMMA Investing LLC lifted its position in shares of Nkarta by 1,887.0% in the second quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock valued at $28,000 after acquiring an additional 4,491 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in shares of Nkarta by 49.2% in the first quarter. Bleakley Financial Group LLC now owns 15,827 shares of the company’s stock worth $171,000 after acquiring an additional 5,219 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Nkarta by 92.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,710 shares of the company’s stock worth $122,000 after purchasing an additional 9,975 shares in the last quarter. Finally, Forefront Analytics LLC purchased a new stake in shares of Nkarta during the second quarter worth approximately $70,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Trading Up 0.6 %

NKTX stock opened at $3.25 on Friday. The firm has a 50 day moving average of $4.56 and a 200-day moving average of $5.65. Nkarta has a 12 month low of $1.90 and a 12 month high of $16.24. The firm has a market capitalization of $229.32 million, a P/E ratio of -1.62 and a beta of 0.86.

Nkarta (NASDAQ:NKTX) last announced its earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.15. Sell-side analysts predict that Nkarta will post -1.92 EPS for the current year.

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.