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

Nkarta, Inc. (NASDAQ:NKTX) has been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $10.75.

A number of equities research analysts have recently weighed in on NKTX shares. Evercore set a $9.00 price objective on Nkarta in a research note on Monday, May 18th. Wall Street Zen cut Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Mizuho dropped their price objective on Nkarta from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a research note on Friday, March 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a research note on Wednesday, May 13th.

Institutional Investors Weigh In On Nkarta

A number of institutional investors have recently modified their holdings of the company. Peapod Lane Capital LLC grew its stake in shares of Nkarta by 0.7% in the fourth quarter. Peapod Lane Capital LLC now owns 676,199 shares of the company’s stock valued at $1,251,000 after buying an additional 4,933 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Nkarta by 35.0% in the third quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock valued at $49,000 after buying an additional 6,141 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Nkarta by 4.0% in the second quarter. BNP Paribas Financial Markets now owns 231,081 shares of the company’s stock valued at $384,000 after buying an additional 8,968 shares in the last quarter. Abel Hall LLC grew its stake in shares of Nkarta by 65.4% in the first quarter. Abel Hall LLC now owns 24,113 shares of the company’s stock valued at $51,000 after buying an additional 9,535 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Nkarta by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock valued at $2,006,000 after buying an additional 10,065 shares in the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

Nkarta Price Performance

NKTX stock opened at $3.03 on Tuesday. The business has a fifty day moving average of $2.63 and a two-hundred day moving average of $2.26. The stock has a market cap of $216.77 million, a price-to-earnings ratio of -2.26 and a beta of 0.88. Nkarta has a 52-week low of $1.63 and a 52-week high of $3.65.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. As a group, sell-side analysts anticipate that Nkarta will post -1.5 EPS for the current year.

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.