Nkarta (NASDAQ:NKTX) Upgraded by Wall Street Zen to “Hold” Rating

Nkarta (NASDAQ:NKTX) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other research firms have also commented on NKTX. Stifel Nicolaus reduced their price objective on Nkarta from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nkarta in a research report on Monday. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

Nkarta Trading Up 1.7%

NASDAQ NKTX opened at $1.79 on Friday. Nkarta has a 1-year low of $1.31 and a 1-year high of $2.74. The company has a 50 day moving average of $1.99 and a 200-day moving average of $2.01. The firm has a market cap of $127.14 million, a price-to-earnings ratio of -1.30 and a beta of 0.80.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.03. On average, analysts forecast that Nkarta will post -1.7 earnings per share for the current year.

Institutional Investors Weigh In On Nkarta

Institutional investors and hedge funds have recently modified their holdings of the business. Alyeska Investment Group L.P. boosted its stake in Nkarta by 54.7% in the first quarter. Alyeska Investment Group L.P. now owns 2,064,956 shares of the company’s stock valued at $3,800,000 after acquiring an additional 730,260 shares during the last quarter. Monaco Asset Management SAM lifted its stake in shares of Nkarta by 24.5% in the 3rd quarter. Monaco Asset Management SAM now owns 1,970,910 shares of the company’s stock valued at $4,080,000 after purchasing an additional 387,538 shares during the period. Geode Capital Management LLC lifted its stake in shares of Nkarta by 0.8% in the 2nd 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. AWM Investment Company Inc. boosted its position in shares of Nkarta by 150.0% in the 1st quarter. AWM Investment Company Inc. now owns 1,000,000 shares of the company’s stock worth $1,840,000 after purchasing an additional 600,000 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Nkarta during the third quarter worth $1,549,000. 80.54% of the stock is owned by institutional investors.

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.