Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) Target Price at $15.00

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given a consensus rating of “Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $15.00.

A number of brokerages have recently commented on NKTX. Needham & Company LLC cut their price target on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Rodman & Renshaw began coverage on 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 Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Wednesday, August 14th. HC Wainwright lowered their price objective on Nkarta from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, RODMAN&RENSHAW upgraded Nkarta to a “strong-buy” rating in a report on Wednesday, October 9th.

Institutional Investors Weigh In On Nkarta

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new position in shares of Nkarta during the 2nd quarter worth approximately $26,000. GAMMA Investing LLC lifted its position in shares of Nkarta by 1,887.0% during the 2nd 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 during the period. Erste Asset Management GmbH acquired a new position in shares of Nkarta during the 3rd quarter valued at $33,000. Forefront Analytics LLC bought a new position in Nkarta during the second quarter worth $70,000. Finally, Intech Investment Management LLC acquired a new stake in Nkarta in the third quarter worth $74,000. 80.54% of the stock is currently owned by institutional investors.

Nkarta Price Performance

NASDAQ:NKTX opened at $2.87 on Thursday. Nkarta has a one year low of $2.38 and a one year high of $16.24. The company has a market cap of $202.54 million, a PE ratio of -1.53 and a beta of 0.86. The firm’s 50 day simple moving average is $3.54 and its 200 day simple moving average is $5.11.

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.