Analysts Set Nkarta, Inc. (NASDAQ:NKTX) Target Price at $11.33

Nkarta, Inc. (NASDAQ:NKTX) has received an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $11.3333.

A number of equities research analysts have weighed in on the company. Mizuho lowered their target price on Nkarta from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Wall Street Zen downgraded Nkarta from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a report on Friday, March 27th. Finally, Needham & Company LLC lifted their target price on Nkarta from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, March 26th.

Nkarta Price Performance

Shares of NKTX opened at $2.31 on Monday. Nkarta has a 1 year low of $1.42 and a 1 year high of $2.81. The company has a market capitalization of $171.61 million, a price-to-earnings ratio of -1.65 and a beta of 0.66. The business has a 50-day moving average of $2.27 and a 200-day moving average of $2.11.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings data on Wednesday, March 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). As a group, sell-side analysts anticipate that Nkarta will post -1.7 EPS for the current year.

Insiders Place Their Bets

In other Nkarta news, CEO Paul J. Hastings sold 26,046 shares of Nkarta stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $2.07, for a total value of $53,915.22. Following the completion of the sale, the chief executive officer directly owned 390,023 shares in the company, valued at approximately $807,347.61. The trade was a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Nkarta

A number of hedge funds have recently added to or reduced their stakes in NKTX. GSK plc bought a new stake in shares of Nkarta during the fourth quarter valued at approximately $5,829,000. Monaco Asset Management SAM increased its holdings in shares of Nkarta by 29.2% during the fourth quarter. Monaco Asset Management SAM now owns 2,546,932 shares of the company’s stock valued at $4,712,000 after acquiring an additional 576,022 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Nkarta by 48.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,702,022 shares of the company’s stock valued at $3,149,000 after acquiring an additional 556,945 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Nkarta by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock valued at $2,006,000 after acquiring an additional 10,065 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Nkarta by 1.9% during the fourth quarter. State Street Corp now owns 1,169,356 shares of the company’s stock valued at $2,163,000 after acquiring an additional 21,241 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors.

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.