Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) Price Target at $10.75

Shares of Nkarta, Inc. (NASDAQ:NKTX) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $10.75.

A number of equities analysts recently issued reports on the company. Mizuho decreased their target price on Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Evercore set a $9.00 price target on Nkarta in a report on Monday, May 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a report on Friday, March 27th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Nkarta in a report on Wednesday, May 13th. Finally, TD Cowen began coverage on Nkarta in a report on Tuesday. They set a “buy” rating on the stock.

Nkarta Stock Performance

NKTX opened at $2.89 on Friday. Nkarta has a one year low of $1.63 and a one year high of $3.65. The stock’s fifty day moving average is $2.90 and its 200-day moving average is $2.41. The company has a market capitalization of $206.75 million, a PE ratio of -2.16 and a beta of 0.91.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Tuesday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. On average, equities research analysts forecast that Nkarta will post -1.41 EPS for the current fiscal year.

Institutional Trading of Nkarta

A number of institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company bought a new stake in Nkarta in the first quarter worth $30,000. Abel Hall LLC acquired a new stake in shares of Nkarta in the fourth quarter worth about $27,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nkarta during the 4th quarter worth about $37,000. Forefront Analytics LLC boosted its stake in shares of Nkarta by 41.0% during the 3rd quarter. Forefront Analytics LLC now owns 39,452 shares of the company’s stock worth $82,000 after acquiring an additional 11,473 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Nkarta by 74.9% during the 1st quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock worth $84,000 after acquiring an additional 17,148 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Company Profile

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.