Stifel Nicolaus Cuts Nkarta (NASDAQ:NKTX) Price Target to $14.00

Nkarta (NASDAQ:NKTX) had its target price lowered by Stifel Nicolaus from $15.00 to $14.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other brokerages have also recently commented on NKTX. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Nkarta in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Nkarta in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $14.86.

Nkarta Stock Performance

Shares of NASDAQ:NKTX opened at $1.97 on Thursday. The business has a 50-day simple moving average of $2.00 and a two-hundred day simple moving average of $2.89. The firm has a market cap of $139.02 million, a price-to-earnings ratio of -1.05 and a beta of 0.90. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $11.84.

Nkarta (NASDAQ:NKTX) last announced its earnings results on Wednesday, March 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.41) by $0.06. As a group, research analysts predict that Nkarta will post -1.7 earnings per share for the current year.

Insider Transactions at Nkarta

In related news, CEO Paul J. Hastings sold 17,378 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total value of $38,231.60. Following the transaction, the chief executive officer now directly owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Nkarta

Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in Nkarta by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 31,056 shares of the company’s stock valued at $77,000 after buying an additional 6,763 shares in the last quarter. Catalina Capital Group LLC lifted its position in Nkarta by 57.5% during the fourth quarter. Catalina Capital Group LLC now owns 18,818 shares of the company’s stock valued at $47,000 after purchasing an additional 6,867 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Nkarta by 41.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,958 shares of the company’s stock worth $60,000 after buying an additional 7,030 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Nkarta in the 3rd quarter worth $33,000. Finally, American Century Companies Inc. increased its holdings in shares of Nkarta by 8.8% in the 4th quarter. American Century Companies Inc. now owns 90,952 shares of the company’s stock worth $226,000 after buying an additional 7,378 shares during the last quarter. Institutional investors own 80.54% of the company’s stock.

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.