Needham & Company LLC Issues Pessimistic Forecast for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its price target cut by Needham & Company LLC from $11.00 to $10.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently weighed in on the company. Stifel Nicolaus reduced their price target on Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Nkarta in a report on Thursday, March 27th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $14.67.

Nkarta Stock Down 8.0%

NASDAQ:NKTX opened at $1.72 on Thursday. Nkarta has a twelve month low of $1.31 and a twelve month high of $8.23. The stock’s 50-day simple moving average is $1.79 and its 200 day simple moving average is $2.22. The firm has a market capitalization of $122.05 million, a PE ratio of -0.91 and a beta of 0.81.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Wednesday, May 14th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.01. On average, analysts anticipate that Nkarta will post -1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Nkarta

A number of institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. bought a new position in shares of Nkarta during the 4th quarter worth about $30,000. Sequoia Financial Advisors LLC bought a new position in Nkarta in the fourth quarter worth approximately $31,000. China Universal Asset Management Co. Ltd. bought a new position in Nkarta in the fourth quarter worth approximately $37,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Nkarta in the first quarter valued at approximately $32,000. Finally, ProShare Advisors LLC bought a new stake in shares of Nkarta during the fourth quarter valued at approximately $45,000. 80.54% of the stock is currently owned by institutional investors.

Nkarta Company Profile

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.