Nkarta (NASDAQ:NKTX) Price Target Lowered to $22.00 at HC Wainwright

Nkarta (NASDAQ:NKTX) had its target price trimmed by HC Wainwright from $23.00 to $22.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Nkarta’s Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.42) EPS, FY2024 earnings at ($1.72) EPS, FY2025 earnings at ($2.13) EPS, FY2026 earnings at ($2.71) EPS, FY2027 earnings at ($2.42) EPS and FY2028 earnings at ($1.82) EPS.

A number of other brokerages have also recently issued reports on NKTX. Canaccord Genuity Group lowered their target price on Nkarta from $16.00 to $15.00 and set a buy rating for the company in a report on Friday, May 10th. Raymond James raised Nkarta from an outperform rating to a strong-buy rating and set a $16.00 target price for the company in a report on Wednesday, August 14th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $13.00 target price on shares of Nkarta in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Buy and an average target price of $18.20.

Nkarta Stock Up 1.2 %

Shares of NKTX stock opened at $5.07 on Thursday. Nkarta has a twelve month low of $1.28 and a twelve month high of $16.24. The company has a market cap of $250.54 million, a P/E ratio of -2.16 and a beta of 0.83. The business has a fifty day simple moving average of $5.95 and a 200 day simple moving average of $8.07.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data 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, equities research analysts anticipate that Nkarta will post -2.27 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Alicia J. Hager sold 3,396 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $8.00, for a total value of $27,168.00. Following the completion of the sale, the insider now owns 103,819 shares of the company’s stock, valued at $830,552. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Nkarta

Several large investors have recently added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC grew its stake in Nkarta by 22.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,226 shares of the company’s stock worth $94,000 after purchasing an additional 2,613 shares during the period. Meeder Asset Management Inc. acquired a new stake in Nkarta during the second quarter worth approximately $26,000. GAMMA Investing LLC grew its stake in Nkarta by 1,887.0% during the second quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after purchasing an additional 4,491 shares during the period. Bleakley Financial Group LLC boosted its holdings in Nkarta by 49.2% in the first quarter. Bleakley Financial Group LLC now owns 15,827 shares of the company’s stock worth $171,000 after acquiring an additional 5,219 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Nkarta by 92.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,710 shares of the company’s stock worth $122,000 after acquiring an additional 9,975 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

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.