Nkarta (NASDAQ:NKTX) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Nkarta (NASDAQ:NKTX) from a hold rating to a sell rating in a research note published on Sunday.

NKTX has been the topic of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of Nkarta in a research report on Wednesday, August 13th. Stifel Nicolaus dropped their target price on shares of Nkarta from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, November 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Nkarta presently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Nkarta Price Performance

Nkarta stock opened at $1.80 on Friday. Nkarta has a one year low of $1.31 and a one year high of $2.74. The company’s fifty day moving average price is $2.06 and its two-hundred day moving average price is $2.00. The company has a market capitalization of $127.85 million, a price-to-earnings ratio of -1.30 and a beta of 0.80.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.03. As a group, sell-side analysts anticipate that Nkarta will post -1.7 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Alyeska Investment Group L.P. lifted its stake in shares of Nkarta by 54.7% in the first 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 period. Monaco Asset Management SAM raised its holdings in Nkarta by 24.5% in the 3rd quarter. Monaco Asset Management SAM now owns 1,970,910 shares of the company’s stock valued at $4,080,000 after acquiring an additional 387,538 shares in the last quarter. Geode Capital Management LLC raised its holdings in Nkarta by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock valued at $2,006,000 after acquiring an additional 10,065 shares in the last quarter. AWM Investment Company Inc. lifted its position in shares of Nkarta by 150.0% in 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 during the period. Finally, Millennium Management LLC acquired a new stake in shares of Nkarta during the 3rd quarter worth approximately $1,549,000. Institutional investors 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.