Nkarta (NASDAQ:NKTX) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Nkarta (NASDAQ:NKTX) from a hold rating to a sell rating in a report released on Saturday morning.

Several other brokerages also recently weighed in on NKTX. Stifel Nicolaus cut their price target on Nkarta from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research note on Friday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Nkarta in a research note on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

Nkarta Stock Down 3.2%

Shares of NKTX stock opened at $1.81 on Friday. The firm has a 50 day moving average of $2.11 and a two-hundred day moving average of $2.01. The stock has a market capitalization of $128.56 million, a PE ratio of -1.31 and a beta of 0.86. Nkarta has a 52 week low of $1.31 and a 52 week high of $3.16.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.03. Analysts expect that Nkarta will post -1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Nkarta

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its stake in Nkarta by 118.7% in the first quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock valued at $247,000 after purchasing an additional 852,559 shares during the last quarter. Monaco Asset Management SAM acquired a new position in shares of Nkarta in the 1st quarter valued at $1,496,000. Millennium Management LLC acquired a new position in shares of Nkarta in the 3rd quarter valued at $1,549,000. Alyeska Investment Group L.P. grew its position in shares of Nkarta by 54.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,064,956 shares of the company’s stock valued at $3,800,000 after buying an additional 730,260 shares during the last quarter. Finally, AWM Investment Company Inc. raised its stake in Nkarta by 150.0% during the 1st quarter. AWM Investment Company Inc. now owns 1,000,000 shares of the company’s stock worth $1,840,000 after acquiring an additional 600,000 shares in the last quarter. 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.