Nkarta, Inc. (NASDAQ:NKTX) Stock Has Consensus Price Target of $11.20

Nkarta, Inc. (NASDAQ:NKTX) has been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $11.20.

NKTX has been the subject of several research analyst reports. Stifel Nicolaus cut their target price on shares of Nkarta from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, August 14th. HC Wainwright decreased their price target on shares of Nkarta to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of Nkarta from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research report on Monday, September 21st.

Nkarta Price Performance

Shares of NKTX opened at $1.70 on Friday. The business’s 50 day moving average is $2.49 and its 200 day moving average is $2.53. Nkarta has a 12-month low of $1.58 and a 12-month high of $3.72.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.18). As a group, sell-side analysts anticipate that Nkarta will post -1.60 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nkarta

Several institutional investors have recently added to or reduced their stakes in the company. Samalin Investment Counsel LLC raised its holdings in shares of Nkarta by 68.5% during the 3rd quarter. Samalin Investment Counsel LLC now owns 68,658 shares of the company’s stock worth $180,000 after acquiring an additional 27,908 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Nkarta during the 2nd quarter valued at approximately $45,000. Spark Investment Management LLC purchased a new position in shares of Nkarta in the second quarter valued at $33,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Nkarta in the second quarter valued at $30,000. Finally, Hsbc Holdings PLC increased its position in Nkarta by 448.4% in the second quarter. Hsbc Holdings PLC now owns 65,994 shares of the company’s stock worth $183,000 after purchasing an additional 53,960 shares during the last quarter. Hedge funds and other institutional investors own 80.54% of the company’s stock.

About Nkarta

Nkarta, Inc is a clinical-stage biotechnology company focused on developing engineered natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s platform is designed to produce allogeneic, or donor-derived, NK cells that can be engineered with chimeric antigen receptors (CARs) to recognize and attack targeted cells.

Nkarta’s research and development programs have included NKX019, a CD19-targeted CAR NK-cell therapy investigated for B-cell malignancies and autoimmune disorders, and NKX101, an NKG2D-targeted CAR NK-cell therapy developed for certain solid tumors.