Nkarta, Inc. (NASDAQ:NKTX) Given Average Recommendation of “Buy” by Analysts

Nkarta, Inc. (NASDAQ:NKTX) has received a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $15.00.

A number of research analysts have issued reports on NKTX shares. RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th. Mizuho reduced their price target on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Needham & Company LLC lowered their price objective 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. Rodman & Renshaw initiated coverage on Nkarta in a report on Wednesday, October 9th. They set a “buy” rating and a $14.00 target price on the stock. Finally, Raymond James upgraded Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Wednesday, August 14th.

Nkarta Stock Performance

NKTX opened at $2.99 on Thursday. The stock has a market capitalization of $211.00 million, a PE ratio of -1.59 and a beta of 0.86. The stock’s 50 day moving average price is $3.63 and its 200-day moving average price is $5.17. Nkarta has a 52-week low of $2.38 and a 52-week high of $16.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. purchased a new stake in shares of Nkarta in the second quarter worth $26,000. GAMMA Investing LLC raised its holdings in Nkarta by 1,887.0% in the second quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after buying an additional 4,491 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Nkarta in the third quarter worth approximately $33,000. 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 valued at $122,000 after acquiring an additional 9,975 shares in the last quarter. Finally, Forefront Analytics LLC purchased a new position in Nkarta in the 2nd quarter worth approximately $70,000. Institutional investors 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.