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

Wall Street Zen downgraded shares of Nkarta (NASDAQ:NKTX) from a sell rating to a strong sell rating in a report published on Saturday.

Several other research firms have also recently weighed in on NKTX. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. TD Cowen started coverage on shares of Nkarta in a report on Tuesday, June 23rd. They issued a “buy” rating for the company. Evercore set a $9.00 price objective on shares of Nkarta in a research report on Monday, May 18th. Mizuho cut their price objective on Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Nkarta in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.75.

Nkarta Price Performance

Shares of NASDAQ NKTX opened at $2.27 on Friday. Nkarta has a one year low of $1.70 and a one year high of $3.72. The business’s 50-day moving average price is $2.84 and its two-hundred day moving average price is $2.56. The company has a market capitalization of $162.40 million, a P/E ratio of -1.69 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. On average, equities analysts anticipate that Nkarta will post -1.43 EPS for the current year.

Institutional Trading of Nkarta

Several institutional investors have recently added to or reduced their stakes in NKTX. GSK plc bought a new position in Nkarta in the fourth quarter valued at about $5,829,000. Monaco Asset Management SAM boosted its position in Nkarta by 29.2% during the fourth quarter. Monaco Asset Management SAM now owns 2,546,932 shares of the company’s stock valued at $4,712,000 after acquiring an additional 576,022 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Nkarta by 1.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,732,372 shares of the company’s stock valued at $3,655,000 after acquiring an additional 30,350 shares during the period. Geode Capital Management LLC raised its holdings in shares of Nkarta by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock valued at $2,006,000 after purchasing an additional 10,065 shares during the period. Finally, State Street Corp lifted its holdings in shares of Nkarta by 1.9% in the 4th quarter. State Street Corp now owns 1,169,356 shares of the company’s stock worth $2,163,000 after purchasing an additional 21,241 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors.

About Nkarta

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.