Nkarta, Inc. (NASDAQ:NKTX) Receives $10.75 Consensus Price Target from Brokerages

Nkarta, Inc. (NASDAQ:NKTX) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.75.

Several analysts have issued reports on NKTX shares. Wall Street Zen downgraded shares of Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Mizuho decreased their target price on Nkarta from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Nkarta in a report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. Finally, TD Cowen initiated coverage on Nkarta in a research report on Tuesday, June 23rd. They set a “buy” rating on the stock.

Nkarta Price Performance

NKTX stock opened at $2.60 on Wednesday. Nkarta has a 52-week low of $1.70 and a 52-week high of $3.72. The company’s 50 day simple moving average is $2.90 and its 200-day simple moving average is $2.54. The firm has a market capitalization of $186.00 million, a P/E ratio of -1.94 and a beta of 0.90.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. Sell-side analysts predict that Nkarta will post -1.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Nkarta

Several institutional investors and hedge funds have recently bought and sold shares of NKTX. Abel Hall LLC acquired a new stake in shares of Nkarta during the fourth quarter worth approximately $27,000. The Manufacturers Life Insurance Company acquired a new position in Nkarta in the 1st quarter valued at approximately $30,000. Dynamic Technology Lab Private Ltd acquired a new position in Nkarta in the 4th quarter valued at approximately $37,000. Forefront Analytics LLC increased its stake in Nkarta by 41.0% in the 3rd quarter. Forefront Analytics LLC now owns 39,452 shares of the company’s stock valued at $82,000 after buying an additional 11,473 shares during the period. Finally, Sei Investments Co. lifted its position in Nkarta by 74.9% in the 1st quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock worth $84,000 after buying an additional 17,148 shares in the last quarter. Hedge funds and other institutional investors 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.