Nkarta, Inc. (NASDAQ:NKTX) Receives Average Rating of “Buy” from Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given an average rating of “Buy” by the eight research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $14.33.

A number of brokerages recently issued reports on NKTX. Mizuho lowered their price objective on Nkarta from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 10th. William Blair restated a “market perform” rating on shares of Nkarta in a research note on Thursday, May 15th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Nkarta in a research note on Thursday, March 27th. Needham & Company LLC reduced their target price on Nkarta from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, May 15th. Finally, Stifel Nicolaus lowered their price target on shares of Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 27th.

Nkarta Stock Performance

Shares of Nkarta stock opened at $1.76 on Friday. Nkarta has a 52-week low of $1.31 and a 52-week high of $8.23. The stock’s 50-day simple moving average is $1.84 and its 200 day simple moving average is $1.97. The stock has a market capitalization of $124.53 million, a P/E ratio of -1.16 and a beta of 0.70.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.01. Equities research analysts forecast that Nkarta will post -1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Nkarta

Several hedge funds have recently bought and sold shares of NKTX. Jefferies Financial Group Inc. grew its stake in Nkarta by 901.7% during the fourth quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company’s stock valued at $6,236,000 after acquiring an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC grew its stake in Nkarta by 252.9% during the fourth quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company’s stock valued at $5,711,000 after acquiring an additional 1,643,719 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Nkarta by 138.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company’s stock valued at $6,319,000 after acquiring an additional 1,474,560 shares in the last quarter. Jane Street Group LLC grew 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. Finally, Monaco Asset Management SAM bought a new position in shares of Nkarta in the 1st quarter worth $1,496,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

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.