Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) Target Price at $10.75

Nkarta, Inc. (NASDAQ:NKTX) has been given an average rating of “Moderate Buy” by the seven research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $11.40.

Several equities analysts have recently weighed in on the company. HC Wainwright decreased their target price on Nkarta to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a research note on Wednesday, May 13th. TD Cowen began coverage on Nkarta in a report on Tuesday, June 23rd. They issued a “buy” rating on the stock. Evercore set a $9.00 price objective on Nkarta in a report on Monday, May 18th. Finally, Wall Street Zen raised shares of Nkarta from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 2nd.

Hedge Funds Weigh In On Nkarta

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Nkarta in the 2nd quarter valued at $17,830,000. GSK plc acquired a new stake in shares of Nkarta in the 4th quarter worth $5,829,000. Monaco Asset Management SAM acquired a new stake in shares of Nkarta in the 2nd quarter worth $6,717,000. Jane Street Group LLC raised its holdings in shares of Nkarta by 118.7% during the 1st quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock worth $247,000 after acquiring an additional 852,559 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Nkarta during the 3rd quarter worth $1,549,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Nkarta Stock Down 5.3%

NKTX opened at $2.33 on Friday. The company has a market cap of $166.69 million, a PE ratio of -1.48 and a beta of 0.93. Nkarta has a twelve month low of $1.70 and a twelve month high of $3.72. The company has a 50-day moving average price of $2.66 and a 200 day moving average price of $2.58.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.15). As a group, sell-side analysts expect that Nkarta will post -1.43 earnings per share for the current year.

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.