Nkarta, Inc. (NASDAQ:NKTX) Given Consensus Rating of “Buy” by Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX) have earned a consensus recommendation of “Buy” from the seven research firms that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $15.00.

A number of research firms have commented on NKTX. Raymond James upgraded Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, August 14th. Needham & Company LLC decreased their price target on Nkarta from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. HC Wainwright cut their price objective on shares of Nkarta from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Rodman & Renshaw started coverage on shares of Nkarta in a research report on Wednesday, October 9th. They issued a “buy” rating and a $14.00 target price for the company. Finally, Mizuho cut their price target on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st.

Nkarta Trading Up 5.6 %

Shares of NKTX opened at $3.03 on Thursday. Nkarta has a 12 month low of $2.38 and a 12 month high of $16.24. The firm’s 50 day moving average is $3.54 and its 200-day moving average is $5.10. The stock has a market capitalization of $213.82 million, a PE ratio of -1.61 and a beta of 0.86.

Hedge Funds Weigh In On Nkarta

A number of institutional investors have recently added to or reduced their stakes in NKTX. State Board of Administration of Florida Retirement System bought a new position in Nkarta in the first quarter valued at about $147,000. Vanguard Group Inc. raised its holdings in Nkarta by 26.0% in the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock valued at $21,255,000 after buying an additional 405,753 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Nkarta during the 1st quarter worth approximately $9,072,000. GAMMA Investing LLC grew its holdings in Nkarta by 1,887.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after acquiring an additional 4,491 shares during the last quarter. Finally, Simplicity Wealth LLC increased its position in Nkarta by 136.8% in the 2nd quarter. Simplicity Wealth LLC now owns 37,486 shares of the company’s stock valued at $222,000 after acquiring an additional 21,659 shares during the period. 80.54% of the stock is currently owned by institutional investors and hedge funds.

About Nkarta

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis.