Needham & Company LLC Lowers Nkarta (NASDAQ:NKTX) Price Target to $10.00

Nkarta (NASDAQ:NKTX) had its price target dropped by research analysts at Needham & Company LLC from $11.00 to $10.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 474.71% from the stock’s previous close.

A number of other research analysts have also issued reports on NKTX. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Nkarta in a research note on Thursday, March 27th. Stifel Nicolaus reduced their target price on shares of Nkarta from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Nkarta has a consensus rating of “Buy” and a consensus target price of $14.67.

Nkarta Stock Up 1.2%

Nkarta stock opened at $1.74 on Thursday. The firm has a 50-day moving average price of $1.79 and a two-hundred day moving average price of $2.21. The firm has a market capitalization of $123.47 million, a price-to-earnings ratio of -0.93 and a beta of 0.81. Nkarta has a 52-week low of $1.31 and a 52-week high of $8.23.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Wednesday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.01. Research analysts expect that Nkarta will post -1.7 earnings per share for the current year.

Institutional Trading of Nkarta

A number of hedge funds and other institutional investors have recently made changes to their positions in NKTX. Jefferies Financial Group Inc. raised its holdings in shares of Nkarta by 901.7% in the 4th quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company’s stock worth $6,236,000 after purchasing an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC raised its holdings in shares of Nkarta by 252.9% in the 4th quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company’s stock worth $5,711,000 after purchasing an additional 1,643,719 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Nkarta by 138.7% in the 4th quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company’s stock worth $6,319,000 after purchasing an additional 1,474,560 shares in the last quarter. Monaco Asset Management SAM bought a new stake in shares of Nkarta in the 1st quarter worth approximately $1,496,000. Finally, Alyeska Investment Group L.P. raised its holdings in shares of Nkarta by 54.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,064,956 shares of the company’s stock worth $3,800,000 after purchasing an additional 730,260 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors.

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.