Nkarta, Inc. (NASDAQ:NKTX) Receives $15.00 Average Price Target from Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX) have earned a consensus rating of “Buy” from the seven analysts that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $15.00.

A number of brokerages recently weighed in on NKTX. Rodman & Renshaw initiated coverage on shares of Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 price objective on the stock. HC Wainwright lowered their price target on Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Needham & Company LLC cut their price objective on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 8th. RODMAN&RENSHAW raised Nkarta to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Mizuho cut their price target on Nkarta from $20.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st.

Nkarta Trading Down 1.2 %

Shares of NKTX opened at $2.44 on Friday. The company has a market cap of $172.19 million, a price-to-earnings ratio of -1.30 and a beta of 0.85. The business’s fifty day simple moving average is $2.50 and its two-hundred day simple moving average is $4.15. Nkarta has a 12 month low of $2.08 and a 12 month high of $16.24.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.02). As a group, research analysts forecast that Nkarta will post -1.68 EPS for the current year.

Insider Activity

In related news, CEO Paul J. Hastings sold 17,378 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total value of $38,231.60. Following the completion of the sale, the chief executive officer now directly owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. This represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.70% of the company’s stock.

Institutional Trading of Nkarta

Hedge funds and other institutional investors have recently modified their holdings of the company. Erste Asset Management GmbH purchased a new position in shares of Nkarta during the 3rd quarter valued at $33,000. GAMMA Investing LLC raised its holdings in Nkarta by 110.9% during the third quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock valued at $45,000 after acquiring an additional 5,243 shares during the period. Forefront Analytics LLC purchased a new position in shares of Nkarta in the second quarter valued at about $70,000. Intech Investment Management LLC bought a new position in shares of Nkarta in the third quarter worth about $74,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Nkarta during the third quarter worth about $93,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

Nkarta Company Profile

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.