Nkarta (NASDAQ:NKTX) PT Lowered to $13.00 at Needham & Company LLC

Nkarta (NASDAQ:NKTXGet Free Report) had its price objective dropped by stock analysts at Needham & Company LLC from $15.00 to $13.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 101.86% from the stock’s previous close.

Several other equities research analysts have also commented on NKTX. Raymond James restated an “outperform” rating and set a $16.00 price target (up from $13.00) on shares of Nkarta in a research note on Friday, March 22nd. Mizuho cut their price target on shares of Nkarta from $31.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Canaccord Genuity Group decreased their price objective on shares of Nkarta from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday. Finally, HC Wainwright raised their target price on shares of Nkarta from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $17.83.

View Our Latest Report on NKTX

Nkarta Stock Performance

NASDAQ NKTX traded up $0.19 during mid-day trading on Monday, reaching $6.44. 642,128 shares of the stock were exchanged, compared to its average volume of 1,748,379. The stock has a market capitalization of $318.26 million, a PE ratio of -2.74 and a beta of 0.88. Nkarta has a 1-year low of $1.28 and a 1-year high of $16.24. The business’s fifty day simple moving average is $9.66 and its 200 day simple moving average is $7.37.

Nkarta (NASDAQ:NKTXGet Free Report) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.57) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.62) by $0.05. On average, analysts anticipate that Nkarta will post -2.36 EPS for the current year.

Insider Transactions at Nkarta

In related news, Director Simeon George bought 2,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was bought at an average price of $10.00 per share, with a total value of $20,000,000.00. Following the completion of the transaction, the director now directly owns 1,548,341 shares of the company’s stock, valued at $15,483,410. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Commodore Capital LP acquired a new stake in Nkarta during the fourth quarter valued at approximately $18,018,000. Boxer Capital LLC acquired a new stake in shares of Nkarta during the 4th quarter worth approximately $9,504,000. Vanguard Group Inc. raised its position in shares of Nkarta by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock worth $21,255,000 after purchasing an additional 405,753 shares during the period. Superstring Capital Management LP acquired a new stake in shares of Nkarta during the 4th quarter worth approximately $2,293,000. Finally, Wasatch Advisors LP raised its position in shares of Nkarta by 13.6% during the 4th quarter. Wasatch Advisors LP now owns 2,099,699 shares of the company’s stock worth $13,858,000 after purchasing an additional 251,795 shares during the period. Institutional investors and hedge funds own 80.54% of the company’s stock.

About Nkarta

(Get Free Report)

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.

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Analyst Recommendations for Nkarta (NASDAQ:NKTX)

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