Nkarta (NASDAQ:NKTX) Earns Buy Rating from Analysts at TD Cowen

TD Cowen began coverage on shares of Nkarta (NASDAQ:NKTX) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set a “buy” rating on the stock.

A number of other research firms also recently issued reports on NKTX. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research report on Friday, March 27th. Wall Street Zen cut shares of Nkarta from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Nkarta in a research note on Wednesday, May 13th. Evercore set a $9.00 price objective on shares of Nkarta in a research report on Monday, May 18th. Finally, Mizuho cut their target price on shares of Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Nkarta currently has an average rating of “Moderate Buy” and an average price target of $10.75.

Nkarta Price Performance

Shares of NASDAQ:NKTX opened at $2.79 on Tuesday. The business has a 50-day moving average of $2.87 and a two-hundred day moving average of $2.40. The firm has a market capitalization of $199.60 million, a PE ratio of -2.08 and a beta of 0.91. Nkarta has a 12 month low of $1.63 and a 12 month high of $3.65.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.02. As a group, research analysts anticipate that Nkarta will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On Nkarta

A number of large investors have recently modified their holdings of NKTX. Abel Hall LLC purchased a new stake in shares of Nkarta during the 4th quarter valued at about $27,000. The Manufacturers Life Insurance Company purchased a new position in Nkarta in the 1st quarter worth approximately $30,000. Dynamic Technology Lab Private Ltd acquired a new stake in Nkarta in the fourth quarter valued at approximately $37,000. Forefront Analytics LLC raised its stake in shares of Nkarta by 41.0% during the third quarter. Forefront Analytics LLC now owns 39,452 shares of the company’s stock valued at $82,000 after purchasing an additional 11,473 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Nkarta by 74.9% during the first quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock worth $84,000 after purchasing an additional 17,148 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Company Profile

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.