Nkarta, Inc. (NASDAQ:NKTX) Stock Has Average Target Price of $11.20 According to Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX) have received an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $11.20.

Several analysts have issued reports on NKTX shares. Stifel Nicolaus lowered their target price on shares of Nkarta from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a report on Monday, September 21st. Wall Street Zen downgraded Nkarta from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. HC Wainwright reduced their target price on Nkarta to $14.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Finally, TD Cowen began coverage on Nkarta in a research note on Tuesday, June 23rd. They issued a “buy” rating on the stock.

Institutional Investors Weigh In On Nkarta

A number of institutional investors and hedge funds have recently bought and sold shares of NKTX. WINTON GROUP Ltd purchased a new position in Nkarta in the 2nd quarter worth approximately $45,000. Spark Investment Management LLC purchased a new stake in shares of Nkarta during the 2nd quarter valued at $33,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Nkarta during the 2nd quarter worth $30,000. Hsbc Holdings PLC grew its position in Nkarta by 448.4% in the second quarter. Hsbc Holdings PLC now owns 65,994 shares of the company’s stock worth $183,000 after acquiring an additional 53,960 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Nkarta in the second quarter valued at $197,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

Nkarta Price Performance

Shares of NASDAQ NKTX opened at $2.62 on Monday. The company has a market cap of $187.64 million, a P/E ratio of -1.67 and a beta of 0.97. Nkarta has a 52 week low of $1.70 and a 52 week high of $3.72. The business has a 50-day simple moving average of $2.59 and a two-hundred day simple moving average of $2.68.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.18). Equities research analysts anticipate that Nkarta will post -1.6 EPS for the current year.

Nkarta Company Profile

Nkarta, Inc is a clinical-stage biotechnology company developing engineered natural killer (NK) cell therapies for the treatment of cancer. The company’s approach is designed to use allogeneic, or donor-derived, immune cells that can be manufactured for use across multiple patients, with the goal of providing an off-the-shelf alternative to individualized cell therapies.

Nkarta’s product candidates include NKX101, an engineered CAR NK cell therapy designed to recognize NKG2D ligands expressed on certain cancer cells, and NKX019, a CD19-targeted CAR NK cell therapy being developed for B-cell malignancies.