Nkarta (NASDAQ:NKTX) Rating Lowered to Sell at Wall Street Zen

Nkarta (NASDAQ:NKTX) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Friday.

NKTX has been the topic of several other research reports. Mizuho dropped their price objective on shares of Nkarta from $16.00 to $14.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 10th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of Nkarta in a research note on Wednesday, August 13th. Stifel Nicolaus dropped their price objective on shares of Nkarta from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Nkarta in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.60.

Nkarta Trading Down 2.7%

Shares of NKTX opened at $2.13 on Friday. The firm’s 50-day moving average price is $2.12 and its 200-day moving average price is $1.92. The firm has a market capitalization of $151.29 million, a price-to-earnings ratio of -1.44 and a beta of 0.86. Nkarta has a 1-year low of $1.31 and a 1-year high of $4.55.

Nkarta (NASDAQ:NKTX) last announced its earnings results on Tuesday, August 12th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.06. On average, research analysts forecast that Nkarta will post -1.7 EPS for the current fiscal year.

Institutional Trading of Nkarta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in Nkarta by 6.5% during the first quarter. American Century Companies Inc. now owns 96,838 shares of the company’s stock valued at $178,000 after buying an additional 5,886 shares during the last quarter. CWM LLC increased its holdings in Nkarta by 23.4% during the second quarter. CWM LLC now owns 34,758 shares of the company’s stock valued at $58,000 after buying an additional 6,601 shares during the last quarter. Wellington Management Group LLP increased its holdings in Nkarta by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 225,224 shares of the company’s stock valued at $561,000 after buying an additional 8,883 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Nkarta by 4.0% during the second quarter. BNP Paribas Financial Markets now owns 231,081 shares of the company’s stock valued at $384,000 after buying an additional 8,968 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Nkarta by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock valued at $2,006,000 after buying an additional 10,065 shares during the last quarter. 80.54% of the stock is owned by hedge funds and other 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.