HC Wainwright Issues Pessimistic Forecast for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its target price cut by HC Wainwright from $22.00 to $18.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently weighed in on the stock. RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th. Needham & Company LLC lowered their price target on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Raymond James raised Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Wednesday, August 14th. Finally, Rodman & Renshaw started coverage on Nkarta in a report on Wednesday, October 9th. They set a “buy” rating and a $14.00 target price for the company. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $16.50.

Nkarta Trading Down 7.2 %

Shares of NKTX opened at $2.70 on Monday. Nkarta has a 12 month low of $2.28 and a 12 month high of $16.24. The stock has a fifty day moving average price of $4.26 and a 200-day moving average price of $5.47. The firm has a market cap of $190.54 million, a PE ratio of -1.53 and a beta of 0.86.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.15. As a group, research analysts forecast that Nkarta will post -1.94 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NKTX. Meeder Asset Management Inc. purchased a new stake in Nkarta in the 2nd quarter worth approximately $26,000. GAMMA Investing LLC lifted its stake in shares of Nkarta by 1,887.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock valued at $28,000 after purchasing an additional 4,491 shares during the period. Erste Asset Management GmbH purchased a new stake in Nkarta during the third quarter worth $33,000. Forefront Analytics LLC acquired a new stake in Nkarta during the second quarter valued at $70,000. Finally, Intech Investment Management LLC purchased a new position in Nkarta in the third quarter valued at $74,000. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

About Nkarta

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.