Nkarta’s (NKTX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Nkarta (NASDAQ:NKTX) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

NKTX has been the topic of several other research reports. Raymond James restated an outperform rating and issued a $16.00 price target (up previously from $13.00) on shares of Nkarta in a research note on Friday, March 22nd. Needham & Company LLC cut their target price on Nkarta from $15.00 to $13.00 and set a buy rating on the stock in a research note on Monday, May 13th. Canaccord Genuity Group cut their target price on Nkarta from $16.00 to $15.00 and set a buy rating on the stock in a research note on Friday, May 10th. Finally, Mizuho cut their target price on Nkarta from $31.00 to $25.00 and set a buy rating on the stock in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $17.83.

Nkarta Stock Up 0.9 %

Nkarta stock opened at $5.91 on Thursday. The company has a market capitalization of $292.07 million, a P/E ratio of -2.51 and a beta of 0.87. The stock’s 50 day moving average is $6.52 and its 200 day moving average is $8.29. Nkarta has a twelve month low of $1.28 and a twelve month high of $16.24.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.02). As a group, equities analysts expect that Nkarta will post -2.27 EPS for the current year.

Hedge Funds Weigh In On Nkarta

A number of institutional investors and hedge funds have recently modified their holdings of NKTX. Acadian Asset Management LLC purchased a new position in shares of Nkarta in the 3rd quarter worth $89,000. SG Americas Securities LLC purchased a new position in shares of Nkarta in the 4th quarter worth $72,000. Bleakley Financial Group LLC purchased a new position in shares of Nkarta in the 4th quarter worth $70,000. Simplicity Solutions LLC purchased a new position in shares of Nkarta in the 4th quarter worth $70,000. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Nkarta in the 4th quarter worth $30,000. 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.