Nkarta, Inc. (NASDAQ:NKTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given a consensus rating of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $13.25.

NKTX has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Nkarta in a report on Monday, December 15th. Wall Street Zen upgraded shares of Nkarta from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Stifel Nicolaus reduced their price target on Nkarta from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, November 11th.

Nkarta Stock Up 1.7%

Shares of NKTX stock opened at $1.84 on Friday. The firm has a market cap of $130.70 million, a price-to-earnings ratio of -1.33 and a beta of 0.80. Nkarta has a 12 month low of $1.31 and a 12 month high of $2.74. The stock has a 50-day moving average price of $1.93 and a 200 day moving average price of $2.00.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Monday, November 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.32) by $0.03. Sell-side analysts predict that Nkarta will post -1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nkarta

Institutional investors have recently modified their holdings of the stock. Nuveen LLC acquired a new stake in shares of Nkarta in the 1st quarter valued at approximately $258,000. Charles Schwab Investment Management Inc. raised its holdings in Nkarta by 18.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 147,551 shares of the company’s stock worth $271,000 after purchasing an additional 22,538 shares during the period. Alyeska Investment Group L.P. boosted its position in shares of Nkarta by 54.7% during the first quarter. Alyeska Investment Group L.P. now owns 2,064,956 shares of the company’s stock worth $3,800,000 after purchasing an additional 730,260 shares in the last quarter. Monaco Asset Management SAM grew its holdings in shares of Nkarta by 94.7% in the 2nd quarter. Monaco Asset Management SAM now owns 1,583,372 shares of the company’s stock valued at $2,628,000 after buying an additional 770,256 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of Nkarta by 36.3% in the 1st quarter. Deutsche Bank AG now owns 58,812 shares of the company’s stock valued at $108,000 after buying an additional 15,655 shares during the period. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.