Nkarta (NASDAQ:NKTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nkarta (NASDAQ:NKTX) from a strong sell rating to a sell rating in a research report released on Sunday.

A number of other equities research analysts have also issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. Evercore set a $9.00 price objective on shares of Nkarta in a report on Monday, May 18th. TD Cowen began coverage on shares of Nkarta in a report on Tuesday, June 23rd. They set a “buy” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price target on shares of Nkarta in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

Nkarta Stock Performance

Shares of NKTX opened at $2.26 on Friday. The firm has a market cap of $161.68 million, a P/E ratio of -1.69 and a beta of 0.93. Nkarta has a twelve month low of $1.70 and a twelve month high of $3.72. The firm’s 50 day moving average price is $2.74 and its two-hundred day moving average price is $2.57.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.02. On average, sell-side analysts anticipate that Nkarta will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nkarta

Several large investors have recently modified their holdings of the stock. Invesco Ltd. grew its stake in Nkarta by 478.4% in the 1st quarter. Invesco Ltd. now owns 69,396 shares of the company’s stock valued at $128,000 after buying an additional 57,399 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Nkarta by 300.5% during the first quarter. AQR Capital Management LLC now owns 672,078 shares of the company’s stock worth $1,237,000 after acquiring an additional 504,272 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Nkarta by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 681,068 shares of the company’s stock valued at $1,253,000 after purchasing an additional 80,211 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Nkarta by 118.7% during the first quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock worth $247,000 after purchasing an additional 852,559 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Nkarta by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock worth $2,006,000 after purchasing an additional 10,065 shares during the last quarter. 80.54% of the stock is owned by institutional investors.

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.