Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) PT at $11.20

Shares of Nkarta, Inc. (NASDAQ:NKTX) have earned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $11.20.

A number of research analysts recently issued reports on NKTX shares. HC Wainwright lowered their target price on Nkarta to $14.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. Wall Street Zen cut shares of Nkarta from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. Evercore set a $9.00 target price on shares of Nkarta in a report on Monday, May 18th. Finally, 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.

Nkarta Price Performance

Shares of NKTX opened at $2.92 on Thursday. Nkarta has a 12 month low of $1.70 and a 12 month high of $3.72. The stock has a fifty day moving average price of $2.62 and a 200 day moving average price of $2.64. The company has a market cap of $209.13 million, a P/E ratio of -1.86 and a beta of 0.97.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.18). As a group, research analysts anticipate that Nkarta will post -1.6 earnings per share for the current year.

Institutional Investors Weigh In On Nkarta

Several hedge funds have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new stake in Nkarta during the second quarter valued at $30,000. Pallas Capital Advisors LLC acquired a new position in Nkarta in the 2nd quarter worth about $31,000. The Manufacturers Life Insurance Company acquired a new position in Nkarta in the 1st quarter worth about $30,000. Abel Hall LLC purchased a new stake in shares of Nkarta during the 4th quarter worth about $27,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nkarta during the 4th quarter worth about $37,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

About Nkarta

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.