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

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $10.75.

NKTX has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $11.00 price target on shares of Nkarta in a research report on Wednesday, May 13th. Evercore set a $9.00 price objective on shares of Nkarta in a report on Monday, May 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research note on Wednesday, June 24th. Wall Street Zen downgraded Nkarta from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Finally, TD Cowen assumed coverage on Nkarta in a research report on Tuesday, June 23rd. They set a “buy” rating on the stock.

Nkarta Price Performance

Shares of NASDAQ:NKTX opened at $2.65 on Wednesday. Nkarta has a fifty-two week low of $1.70 and a fifty-two week high of $3.72. The business’s fifty day moving average price is $2.93 and its two-hundred day moving average price is $2.53. The stock has a market capitalization of $189.58 million, a price-to-earnings ratio of -1.98 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.02. Research analysts expect that Nkarta will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Abel Hall LLC bought a new stake in Nkarta during the 4th quarter worth about $27,000. The Manufacturers Life Insurance Company bought a new position in shares of Nkarta in the first quarter worth about $30,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nkarta during the fourth quarter worth approximately $37,000. Forefront Analytics LLC lifted its position in shares of Nkarta by 41.0% during the third quarter. Forefront Analytics LLC now owns 39,452 shares of the company’s stock worth $82,000 after purchasing an additional 11,473 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Nkarta by 74.9% during the first quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock valued at $84,000 after purchasing an additional 17,148 shares during the last quarter. 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.