Nkarta (NASDAQ:NKTX) Rating Increased to Hold at Wall Street Zen

Nkarta (NASDAQ:NKTX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nkarta in a research note on Monday. Stifel Nicolaus decreased their target price on shares of Nkarta from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Nkarta currently has a consensus rating of “Moderate Buy” and an average target price of $13.25.

Nkarta Stock Up 1.7%

Shares of NASDAQ:NKTX opened at $1.79 on Friday. The company’s fifty day moving average is $1.99 and its two-hundred day moving average is $2.01. The company has a market cap of $127.14 million, a P/E ratio of -1.30 and a beta of 0.80. Nkarta has a 12-month low of $1.31 and a 12-month high of $2.74.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.03. Equities research analysts anticipate that Nkarta will post -1.7 earnings per share for the current year.

Institutional Investors Weigh In On Nkarta

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Forefront Analytics LLC boosted its holdings in Nkarta by 41.0% during the third quarter. Forefront Analytics LLC now owns 39,452 shares of the company’s stock valued at $82,000 after purchasing an additional 11,473 shares in the last quarter. Prelude Capital Management LLC acquired a new position in shares of Nkarta in the 3rd quarter worth approximately $90,000. Millennium Management LLC bought a new position in shares of Nkarta during the 3rd quarter worth approximately $1,549,000. Virtu Financial LLC acquired a new stake in Nkarta in the 3rd quarter valued at $102,000. Finally, Man Group plc bought a new stake in Nkarta in the third quarter valued at $90,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

About Nkarta

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.