Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Rating of “Buy” from Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given an average recommendation of “Buy” by the eight research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.67.

A number of equities analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. William Blair reissued a “market perform” rating on shares of Nkarta in a report on Thursday, May 15th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Nkarta in a report on Thursday, March 27th. Finally, Needham & Company LLC lowered their price target on Nkarta from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, May 15th.

Nkarta Price Performance

Nkarta stock opened at $1.87 on Tuesday. Nkarta has a 1-year low of $1.31 and a 1-year high of $8.23. The stock has a market cap of $132.69 million, a PE ratio of -0.99 and a beta of 0.72. The stock’s fifty day moving average is $1.82 and its two-hundred day moving average is $2.07.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.01. On average, research analysts expect that Nkarta will post -1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NKTX. Invesco Ltd. acquired a new position in Nkarta in the 4th quarter valued at $30,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Nkarta during the 4th quarter worth $31,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Nkarta during the 1st quarter worth $32,000. ProShare Advisors LLC acquired a new stake in shares of Nkarta during the 4th quarter worth $45,000. Finally, CWM LLC increased its holdings in shares of Nkarta by 3,437.3% during the 1st quarter. CWM LLC now owns 28,157 shares of the company’s stock worth $52,000 after buying an additional 27,361 shares during the last quarter. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Nkarta Company Profile

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis.