Nkarta, Inc. (NASDAQ:NKTX) Given Average Rating of “Buy” by Brokerages

Nkarta, Inc. (NASDAQ:NKTX) has been given an average recommendation of “Buy” by the seven analysts that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $17.17.

NKTX has been the subject of a number of analyst reports. Raymond James upgraded shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Wednesday, August 14th. Rodman & Renshaw initiated coverage on Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 price objective for the company. Needham & Company LLC cut their target price on Nkarta from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday. HC Wainwright decreased their target price on Nkarta from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, RODMAN&RENSHAW upgraded shares of Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th.

Institutional Investors Weigh In On Nkarta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Nkarta in the 1st quarter valued at $788,000. Vanguard Group Inc. increased its stake in Nkarta by 26.0% in the first quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock valued at $21,255,000 after purchasing an additional 405,753 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Nkarta in the second quarter valued at about $938,000. Federated Hermes Inc. boosted its stake in shares of Nkarta by 28,478.7% during the second quarter. Federated Hermes Inc. now owns 135,749 shares of the company’s stock worth $802,000 after buying an additional 135,274 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Nkarta during the second quarter worth about $1,489,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Nkarta Price Performance

NKTX opened at $3.19 on Friday. The business has a fifty day moving average price of $4.39 and a 200 day moving average price of $5.56. The stock has a market capitalization of $225.09 million, a price-to-earnings ratio of -1.59 and a beta of 0.86. Nkarta has a 12 month low of $1.90 and a 12 month high of $16.24.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.15. On average, research analysts anticipate that Nkarta will post -1.92 earnings per share for the current year.

About Nkarta

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis.