Nkarta (NASDAQ:NKTX) Upgraded by Evercore to “Strong-Buy” Rating

Evercore upgraded shares of Nkarta (NASDAQ:NKTX) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Nkarta in a research note on Wednesday, May 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research note on Friday, March 27th. Wall Street Zen cut shares of Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Mizuho decreased their price target on shares of Nkarta from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.75.

Nkarta Trading Up 1.5%

Shares of Nkarta stock opened at $2.68 on Monday. The company has a fifty day simple moving average of $2.58 and a 200-day simple moving average of $2.23. Nkarta has a 12-month low of $1.63 and a 12-month high of $3.65. The stock has a market cap of $191.73 million, a price-to-earnings ratio of -2.00 and a beta of 0.88.

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

Hedge Funds Weigh In On Nkarta

Large investors have recently bought and sold shares of the company. Monaco Asset Management SAM raised its position in Nkarta by 24.5% during the 3rd quarter. Monaco Asset Management SAM now owns 1,970,910 shares of the company’s stock worth $4,080,000 after buying an additional 387,538 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Nkarta during the 4th quarter worth $37,000. Abel Hall LLC purchased a new position in Nkarta during the 4th quarter worth $27,000. The Manufacturers Life Insurance Company purchased a new position in Nkarta during the 1st quarter worth $30,000. Finally, Sei Investments Co. raised its position in Nkarta by 74.9% during the 1st quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock worth $84,000 after buying an additional 17,148 shares during the last quarter. Hedge funds and other institutional investors 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.