Nkarta, Inc. (NASDAQ:NKTX) Receives $10.75 Consensus PT from Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $10.75.

Several equities analysts recently issued reports on the company. Evercore set a $9.00 target price on Nkarta in a research note on Monday, May 18th. Wall Street Zen downgraded Nkarta from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Mizuho cut their price target on Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a report on Friday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Nkarta in a report on Wednesday, May 13th.

Institutional Investors Weigh In On Nkarta

Several large investors have recently bought and sold shares of NKTX. GSK plc purchased a new stake in Nkarta during the 4th quarter worth about $5,829,000. Jane Street Group LLC increased its holdings in 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 purchasing an additional 852,559 shares during the period. Millennium Management LLC purchased a new stake in Nkarta during the 3rd quarter worth about $1,549,000. Monaco Asset Management SAM increased its holdings in Nkarta by 29.2% during the 4th quarter. Monaco Asset Management SAM now owns 2,546,932 shares of the company’s stock worth $4,712,000 after purchasing an additional 576,022 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in Nkarta by 48.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,702,022 shares of the company’s stock worth $3,149,000 after purchasing an additional 556,945 shares during the period. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Nkarta Trading Down 1.5%

NKTX opened at $3.25 on Tuesday. The stock’s 50-day moving average price is $2.70 and its 200 day moving average price is $2.29. Nkarta has a 12-month low of $1.63 and a 12-month high of $3.65. The firm has a market cap of $232.51 million, a price-to-earnings ratio of -2.43 and a beta of 0.88.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. On average, research analysts forecast that Nkarta will post -1.5 earnings per share for the current year.

Nkarta Company Profile

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.