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

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $10.75.

A number of equities analysts recently commented on NKTX shares. TD Cowen started coverage on Nkarta in a report on Tuesday. They issued a “buy” rating on the stock. Evercore set a $9.00 target price on Nkarta in a report on Monday, May 18th. Wall Street Zen cut Nkarta from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Mizuho decreased their target price on Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a report on Wednesday.

Nkarta Price Performance

NASDAQ NKTX opened at $2.83 on Friday. The business’s fifty day moving average price is $2.92 and its 200-day moving average price is $2.42. The stock has a market capitalization of $202.46 million, a price-to-earnings ratio of -2.11 and a beta of 0.91. Nkarta has a 1-year low of $1.63 and a 1-year high of $3.65.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings results 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. Equities research analysts anticipate that Nkarta will post -1.43 EPS for the current year.

Institutional Investors Weigh In On Nkarta

A number of institutional investors have recently bought and sold shares of NKTX. GSK plc purchased a new stake in Nkarta in the 4th quarter worth $5,829,000. Jane Street Group LLC increased its stake in Nkarta by 118.7% in the 1st quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock worth $247,000 after buying an additional 852,559 shares in the last quarter. Millennium Management LLC purchased a new stake in Nkarta in the 3rd quarter worth $1,549,000. Monaco Asset Management SAM increased its stake in Nkarta by 29.2% in the 4th quarter. Monaco Asset Management SAM now owns 2,546,932 shares of the company’s stock worth $4,712,000 after buying an additional 576,022 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Nkarta by 48.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,702,022 shares of the company’s stock valued at $3,149,000 after purchasing an additional 556,945 shares in the last quarter. Hedge funds and other institutional investors 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.