Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given a consensus rating of “Buy” by the seven brokerages that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $15.00.

Several analysts have issued reports on the company. Needham & Company LLC dropped their price objective on Nkarta from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Rodman & Renshaw assumed coverage on Nkarta in a research note on Wednesday, October 9th. They issued a “buy” rating and a $14.00 price target on the stock. HC Wainwright cut their price target on Nkarta from $22.00 to $18.00 and set a “buy” rating for the company in a report on Monday, November 11th. Mizuho decreased their price objective on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st. Finally, RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th.

Nkarta Stock Performance

Shares of NKTX stock opened at $2.37 on Monday. Nkarta has a 52-week low of $2.08 and a 52-week high of $16.24. The stock has a market cap of $167.25 million, a price-to-earnings ratio of -1.26 and a beta of 0.82. The firm’s 50-day moving average is $3.01 and its 200-day moving average is $4.68.

Institutional Investors Weigh In On Nkarta

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC acquired a new stake in shares of Nkarta in the second quarter valued at approximately $938,000. Federated Hermes Inc. increased its stake in Nkarta by 28,478.7% during the 2nd quarter. Federated Hermes Inc. now owns 135,749 shares of the company’s stock worth $802,000 after acquiring an additional 135,274 shares during the period. Wasatch Advisors LP raised its holdings in Nkarta by 31.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,834,680 shares of the company’s stock valued at $8,293,000 after acquiring an additional 442,125 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Nkarta during the 2nd quarter valued at $1,489,000. Finally, FMR LLC grew its holdings in shares of Nkarta by 97.1% during the 3rd quarter. FMR LLC now owns 133,149 shares of the company’s stock worth $602,000 after purchasing an additional 65,600 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

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.