HC Wainwright Begins Coverage on Nkarta (NASDAQ:NKTX)

HC Wainwright started coverage on shares of Nkarta (NASDAQ:NKTX) in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage set a “buy” rating on the stock.

Several other research firms have also issued reports on NKTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a report on Monday, September 21st. Stifel Nicolaus lowered their target price on Nkarta from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, Wall Street Zen downgraded Nkarta from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $11.20.

Nkarta Stock Performance

Shares of Nkarta stock opened at $1.56 on Monday. The firm has a fifty day simple moving average of $2.44 and a 200-day simple moving average of $2.53. Nkarta has a 1-year low of $1.54 and a 1-year high of $3.72. The stock has a market capitalization of $111.73 million, a price-to-earnings ratio of -0.99 and a beta of 1.24.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data 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, research analysts predict that Nkarta will post -1.60 earnings per share for the current year.

Hedge Funds Weigh In On Nkarta

A number of hedge funds have recently bought and sold shares of NKTX. Samalin Investment Counsel LLC boosted its stake in Nkarta by 68.5% during the third 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 acquired a new position in shares of Nkarta during the second quarter valued at about $45,000. Spark Investment Management LLC bought a new position in shares of Nkarta during the 2nd quarter worth about $33,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Nkarta during the 2nd quarter worth about $30,000. Finally, Hsbc Holdings PLC boosted its position in shares of Nkarta by 448.4% during the 2nd quarter. Hsbc Holdings PLC now owns 65,994 shares of the company’s stock worth $183,000 after purchasing an additional 53,960 shares in the last quarter. Institutional investors own 80.54% of the company’s stock.

Nkarta Company Profile

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.