Stifel Nicolaus Cuts Nkarta (NASDAQ:NKTX) Price Target to $14.00

Nkarta (NASDAQ:NKTX) had its price objective dropped by equities research analysts at Stifel Nicolaus from $15.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock.

A number of other analysts also recently commented on the stock. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Nkarta in a research report on Thursday. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Nkarta in a report on Thursday. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $14.86.

Nkarta Stock Up 1.5 %

Nkarta stock opened at $2.00 on Thursday. The firm has a 50-day moving average price of $1.99 and a two-hundred day moving average price of $2.87. Nkarta has a 52-week low of $1.31 and a 52-week high of $11.84. The firm has a market capitalization of $141.14 million, a price-to-earnings ratio of -1.06 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Wednesday, March 26th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.06. Research analysts expect that Nkarta will post -1.7 earnings per share for the current year.

Insider Activity at Nkarta

In other news, CEO Paul J. Hastings sold 17,378 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total transaction of $38,231.60. Following the completion of the sale, the chief executive officer now owns 319,859 shares in the company, valued at approximately $703,689.80. This represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Nkarta

Several hedge funds have recently modified their holdings of the stock. Jefferies Financial Group Inc. increased its stake in Nkarta by 901.7% in the 4th quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company’s stock worth $6,236,000 after purchasing an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC boosted its holdings in shares of Nkarta by 252.9% in the fourth quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company’s stock worth $5,711,000 after buying an additional 1,643,719 shares during the period. JPMorgan Chase & Co. increased its position in shares of Nkarta by 138.7% in the fourth quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company’s stock worth $6,319,000 after acquiring an additional 1,474,560 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Nkarta by 37.4% in the fourth quarter. Wasatch Advisors LP now owns 2,520,909 shares of the company’s stock worth $6,277,000 after acquiring an additional 686,229 shares in the last quarter. Finally, AWM Investment Company Inc. acquired a new stake in shares of Nkarta during the fourth quarter valued at approximately $996,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

Nkarta Company Profile

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.