HC Wainwright Has Lowered Expectations for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its price target cut by equities researchers at HC Wainwright from $22.00 to $18.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 490.16% from the company’s previous close.

Several other analysts have also issued reports on NKTX. Rodman & Renshaw started coverage on Nkarta in a research note on Wednesday, October 9th. They issued a “buy” rating and a $14.00 price objective on the stock. RODMAN&RENSHAW raised Nkarta to a “strong-buy” rating in a report on Wednesday, October 9th. Raymond James raised shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, August 14th. Finally, Needham & Company LLC reduced their target price on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 8th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $16.50.

Nkarta Trading Down 10.0 %

NASDAQ:NKTX opened at $3.05 on Monday. The stock has a market capitalization of $215.21 million, a PE ratio of -1.68 and a beta of 0.86. Nkarta has a 1-year low of $1.90 and a 1-year high of $16.24. The firm has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $5.51.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.15. On average, equities analysts predict that Nkarta will post -1.92 earnings per share for the current fiscal year.

Institutional Trading of Nkarta

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new position in shares of Nkarta during the second quarter worth approximately $26,000. GAMMA Investing LLC increased its stake in Nkarta by 1,887.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after acquiring an additional 4,491 shares during the period. Forefront Analytics LLC acquired a new position in Nkarta in the 2nd quarter valued at $70,000. Intech Investment Management LLC bought a new stake in shares of Nkarta during the 3rd quarter valued at $74,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Nkarta during the 3rd quarter worth $93,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

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.