Nkarta (NASDAQ:NKTX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Nkarta (NASDAQ:NKTX) had its price objective raised by stock analysts at Needham & Company LLC from $10.00 to $11.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 416.43% from the stock’s current price.

NKTX has been the topic of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Nkarta from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.50.

Nkarta Stock Performance

NKTX stock opened at $2.13 on Thursday. The business has a 50-day simple moving average of $2.28 and a two-hundred day simple moving average of $2.10. The company has a market capitalization of $151.29 million, a P/E ratio of -1.54 and a beta of 0.47. Nkarta has a 52-week low of $1.31 and a 52-week high of $2.81.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Wednesday, March 25th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). As a group, sell-side analysts forecast that Nkarta will post -1.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nkarta news, CEO Paul J. Hastings sold 26,046 shares of the business’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $2.07, for a total value of $53,915.22. Following the transaction, the chief executive officer owned 390,023 shares of the company’s stock, valued at approximately $807,347.61. The trade was a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Nkarta

A number of hedge funds have recently made changes to their positions in NKTX. Abel Hall LLC bought a new position in Nkarta during the fourth quarter valued at about $27,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Nkarta during the 4th quarter valued at approximately $37,000. SG Americas Securities LLC increased its stake in shares of Nkarta by 35.0% during the 3rd quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock worth $49,000 after purchasing an additional 6,141 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Nkarta during the 3rd quarter worth approximately $61,000. Finally, Forefront Wealth Partners LLC bought a new stake in shares of Nkarta in the 3rd quarter worth approximately $82,000. 80.54% of the stock is currently owned by institutional investors.

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.