Nkarta’s (NKTX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Nkarta (NASDAQ:NKTX) in a report released on Monday morning,Benzinga reports.

NKTX has been the topic of a number of other reports. HC Wainwright assumed coverage on shares of Nkarta in a research note on Monday, November 2nd. They set a “buy” rating on the stock. Stifel Nicolaus lowered their price target on Nkarta from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research report on Monday, September 21st. Finally, Wall Street Zen cut shares of Nkarta from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.20.

Nkarta Price Performance

NKTX opened at $1.48 on Monday. The stock has a market capitalization of $106.12 million, a P/E ratio of -0.86 and a beta of 1.24. Nkarta has a 12 month low of $1.13 and a 12 month high of $3.72. The business has a 50 day simple moving average of $2.26 and a 200-day simple moving average of $2.50.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings data on Tuesday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.05). Research analysts anticipate that Nkarta will post -1.67 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Nkarta in the second quarter valued at approximately $17,830,000. Monaco Asset Management SAM acquired a new position in Nkarta in the second quarter valued at approximately $6,717,000. AWM Investment Company Inc. acquired a new stake in Nkarta in the second quarter worth $2,564,000. Ieq Capital LLC acquired a new stake in Nkarta in the 2nd quarter valued at $501,000. Finally, Dimensional Fund Advisors LP increased its holdings in Nkarta by 74.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 346,593 shares of the company’s stock worth $731,000 after purchasing an additional 147,894 shares in the last quarter. Institutional investors own 80.54% of the company’s stock.

About Nkarta

Nkarta, Inc. is a clinical-stage biotechnology company focused on developing engineered natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s platform is designed to produce allogeneic, or donor-derived, NK cells that can be engineered with chimeric antigen receptors (CARs) to recognize and attack targeted cells. Nkarta’s research and development programs have included NKX019, a CD19-targeted CAR NK-cell therapy investigated for B-cell malignancies and autoimmune disorders, and NKX101, an NKG2D-targeted CAR NK-cell therapy developed for certain solid tumors.