Wall Street Zen Upgrades Nkarta (NASDAQ:NKTX) to “Hold”

Nkarta (NASDAQ:NKTX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus decreased their price target on shares of Nkarta from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday. William Blair reiterated a “market perform” rating on shares of Nkarta in a research note on Thursday, May 15th. Mizuho decreased their price target on shares of Nkarta from $16.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday, June 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Nkarta in a research note on Wednesday. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.60.

Nkarta Trading Up 5.9%

Shares of Nkarta stock opened at $2.33 on Friday. The company has a fifty day simple moving average of $1.93 and a 200-day simple moving average of $1.89. Nkarta has a 12-month low of $1.31 and a 12-month high of $6.63. The stock has a market cap of $165.50 million, a price-to-earnings ratio of -1.57 and a beta of 0.72.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Tuesday, August 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.06. On average, analysts forecast that Nkarta will post -1.7 earnings per share for the current fiscal year.

Institutional Trading of Nkarta

Several hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its stake in shares of Nkarta by 4.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 231,081 shares of the company’s stock worth $384,000 after acquiring an additional 8,968 shares during the period. Invesco Ltd. lifted its stake in shares of Nkarta by 43.1% in the 2nd quarter. Invesco Ltd. now owns 99,297 shares of the company’s stock worth $165,000 after acquiring an additional 29,901 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of Nkarta in the 2nd quarter worth $190,000. Geode Capital Management LLC lifted its stake in shares of Nkarta by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock worth $2,006,000 after acquiring an additional 10,065 shares during the period. Finally, Monaco Asset Management SAM lifted its stake in shares of Nkarta by 94.7% in the 2nd quarter. Monaco Asset Management SAM now owns 1,583,372 shares of the company’s stock worth $2,628,000 after acquiring an additional 770,256 shares during the period. Institutional investors and hedge funds own 80.54% of the company’s stock.

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.