Mizuho Has Lowered Expectations for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its price objective decreased by Mizuho from $14.00 to $12.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would suggest a potential upside of 447.95% from the company’s current price.

NKTX has been the topic of a number of other reports. Wall Street Zen cut shares of Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Needham & Company LLC lifted their price target on shares of Nkarta from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research note on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nkarta presently has an average rating of “Hold” and an average target price of $11.33.

Nkarta Price Performance

NASDAQ NKTX opened at $2.19 on Tuesday. The stock has a market capitalization of $162.70 million, a price-to-earnings ratio of -1.56 and a beta of 0.66. Nkarta has a one year low of $1.42 and a one year high of $2.81. The business’s fifty day moving average is $2.28 and its 200-day moving average is $2.10.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings results on Wednesday, March 25th. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Research analysts expect that Nkarta will post -1.7 EPS for the current fiscal year.

Insider Buying and Selling

In other Nkarta news, CEO Paul J. Hastings sold 26,046 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $2.07, for a total transaction of $53,915.22. Following the sale, the chief executive officer directly owned 390,023 shares of the company’s stock, valued at $807,347.61. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nkarta

Several large investors have recently modified their holdings of the business. Monaco Asset Management SAM grew its stake in 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 buying an additional 387,538 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Nkarta by 35.0% during the third quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock worth $49,000 after acquiring an additional 6,141 shares in the last quarter. Bailard Inc. bought a new position in shares of Nkarta in the third quarter worth $61,000. Forefront Wealth Partners LLC bought a new position in shares of Nkarta in the third quarter worth $82,000. Finally, Panagora Asset Management Inc. purchased a new position in shares of Nkarta in the second quarter valued at $190,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

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.