Nkarta (NASDAQ:NKTX) Price Target Lowered to $12.00 at Mizuho

Nkarta (NASDAQ:NKTX) had its target price reduced by analysts at Mizuho from $14.00 to $12.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 467.91% from the company’s previous close.

Several other research analysts have also commented on NKTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a report on Friday. Wall Street Zen cut shares of Nkarta from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Needham & Company LLC lifted their target price on Nkarta from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Three 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.33.

Nkarta Trading Up 5.7%

Shares of NASDAQ NKTX opened at $2.11 on Tuesday. The company has a market capitalization of $156.97 million, a price-to-earnings ratio of -1.51 and a beta of 0.47. Nkarta has a twelve month low of $1.42 and a twelve month high of $2.81. The business has a 50 day simple moving average of $2.28 and a 200-day simple moving average of $2.10.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data on Wednesday, March 25th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.05). As a group, equities analysts predict that Nkarta will post -1.7 earnings per share for the current year.

Insider Activity

In related news, CEO Paul J. Hastings sold 26,046 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $2.07, for a total value of $53,915.22. Following the completion of the transaction, the chief executive officer directly owned 390,023 shares of the company’s stock, valued at $807,347.61. This represents a 6.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NKTX. Abel Hall LLC bought a new stake in Nkarta in the fourth quarter worth about $27,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Nkarta during the 4th quarter valued at about $37,000. SG Americas Securities LLC boosted its position in shares of Nkarta by 35.0% during the 3rd quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock valued at $49,000 after purchasing an additional 6,141 shares in the last quarter. Bailard Inc. acquired a new position in shares of Nkarta in the 3rd quarter worth approximately $61,000. Finally, Forefront Wealth Partners LLC bought a new stake in shares of Nkarta in the 3rd quarter worth approximately $82,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

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.