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

Nkarta (NASDAQ:NKTX) had its price target lowered by research analysts at Mizuho from $16.00 to $14.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock.

Other equities analysts also recently issued reports about the company. Needham & Company LLC cut their target price on Nkarta from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 15th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Nkarta in a research report on Thursday, March 27th. William Blair reissued a “market perform” rating on shares of Nkarta in a research report on Thursday, May 15th. Finally, Stifel Nicolaus cut their target price on Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Nkarta currently has a consensus rating of “Buy” and a consensus target price of $14.33.

Nkarta Trading Up 0.5%

Shares of NKTX stock opened at $2.00 on Tuesday. The business’s fifty day simple moving average is $1.84 and its 200-day simple moving average is $2.07. The company has a market cap of $141.92 million, a PE ratio of -1.06 and a beta of 0.72. Nkarta has a 12-month low of $1.31 and a 12-month high of $8.23.

Nkarta (NASDAQ:NKTX) last released its earnings results on Wednesday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.01. On average, equities analysts forecast that Nkarta will post -1.7 earnings per share for the current year.

Institutional Investors Weigh In On Nkarta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKTX. Jefferies Financial Group Inc. grew its position in Nkarta by 901.7% during 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 during the period. Tang Capital Management LLC boosted its stake in shares of Nkarta by 252.9% during the 4th quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company’s stock worth $5,711,000 after acquiring an additional 1,643,719 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Nkarta by 138.7% during the 4th 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. Jane Street Group LLC boosted its stake in shares of Nkarta by 118.7% during the 1st quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock worth $247,000 after acquiring an additional 852,559 shares in the last quarter. Finally, Monaco Asset Management SAM purchased a new stake in shares of Nkarta during the 1st quarter worth about $1,496,000. 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.