HC Wainwright Issues Pessimistic Forecast for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its price target decreased by HC Wainwright from $22.00 to $18.00 in a research report released on Monday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

NKTX has been the topic of several other reports. Raymond James raised shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, August 14th. Needham & Company LLC reduced their price objective on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday. RODMAN&RENSHAW upgraded Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Rodman & Renshaw assumed coverage on shares of Nkarta in a research note on Wednesday, October 9th. They set a “buy” rating and a $14.00 price target for the company. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Nkarta has an average rating of “Buy” and a consensus price target of $16.50.

Nkarta Price Performance

Nkarta stock opened at $3.30 on Monday. Nkarta has a 52-week low of $1.90 and a 52-week high of $16.24. The firm has a market capitalization of $232.85 million, a P/E ratio of -1.80 and a beta of 0.86. The stock has a fifty day moving average price of $4.35 and a two-hundred day moving average price of $5.51.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.15. On average, equities research analysts predict that Nkarta will post -1.92 EPS for the current fiscal year.

Institutional Trading of Nkarta

Hedge funds have recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Nkarta in the first quarter worth approximately $788,000. Vanguard Group Inc. raised its position in shares of Nkarta by 26.0% in the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock worth $21,255,000 after acquiring an additional 405,753 shares in the last quarter. AQR Capital Management LLC acquired a new position in Nkarta in the second quarter valued at approximately $938,000. Federated Hermes Inc. increased its stake in Nkarta by 28,478.7% in the second quarter. Federated Hermes Inc. now owns 135,749 shares of the company’s stock valued at $802,000 after purchasing an additional 135,274 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Nkarta in the second quarter worth approximately $1,489,000. 80.54% of the stock is 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.