Nkarta (NASDAQ:NKTX) Stock Rating Lowered by Wall Street Zen

Nkarta (NASDAQ:NKTX) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently weighed in on NKTX. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. TD Cowen started coverage on Nkarta in a research report on Tuesday, June 23rd. They set a “buy” rating on the stock. Evercore set a $9.00 target price on Nkarta in a research report on Monday, May 18th. Mizuho cut their price target on Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nkarta currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.

Nkarta Trading Down 1.3%

NKTX stock opened at $2.27 on Friday. Nkarta has a twelve month low of $1.70 and a twelve month high of $3.72. The company’s 50 day moving average is $2.84 and its two-hundred day moving average is $2.56. The stock has a market cap of $162.41 million, a P/E ratio of -1.69 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Tuesday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.02. On average, equities research analysts predict that Nkarta will post -1.43 earnings per share for the current year.

Institutional Trading of Nkarta

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Abel Hall LLC acquired a new stake in Nkarta during the 4th quarter worth approximately $27,000. The Manufacturers Life Insurance Company acquired a new position in shares of Nkarta in the first quarter valued at approximately $30,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nkarta during the fourth quarter worth approximately $37,000. Sei Investments Co. raised 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 worth $84,000 after purchasing an additional 17,148 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Nkarta by 45.8% during the fourth quarter. Wells Fargo & Company MN now owns 47,997 shares of the company’s stock worth $89,000 after purchasing an additional 15,079 shares during the period. 80.54% of the stock is owned by hedge funds and other institutional investors.

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.