Nkarta, Inc. (NASDAQ:NKTX) Given Average Rating of “Buy” by Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX) have received an average recommendation of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $15.00.

A number of brokerages have issued reports on NKTX. Needham & Company LLC reduced their price objective on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Rodman & Renshaw began coverage on shares of Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 price target on the stock. RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a report on Wednesday, October 9th. HC Wainwright decreased their price target on shares of Nkarta from $22.00 to $18.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, Mizuho decreased their price target on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Thursday, November 21st.

Insider Activity at Nkarta

In related news, CEO Paul J. Hastings sold 17,378 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total value of $38,231.60. Following the sale, the chief executive officer now directly owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. The trade was a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nkarta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Erste Asset Management GmbH bought a new stake in Nkarta during the 3rd quarter worth about $33,000. GAMMA Investing LLC raised its holdings in shares of Nkarta by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock valued at $45,000 after purchasing an additional 5,243 shares during the period. Forefront Analytics LLC bought a new stake in shares of Nkarta in the 2nd quarter valued at about $70,000. Intech Investment Management LLC acquired a new position in Nkarta in the 3rd quarter valued at about $74,000. Finally, SG Americas Securities LLC acquired a new position in Nkarta in the 3rd quarter valued at about $93,000. 80.54% of the stock is owned by institutional investors.

Nkarta Price Performance

NKTX opened at $2.53 on Friday. Nkarta has a one year low of $2.08 and a one year high of $16.24. The company’s 50 day simple moving average is $2.48 and its 200-day simple moving average is $4.12. The stock has a market capitalization of $178.54 million, a P/E ratio of -1.35 and a beta of 0.85.

Nkarta (NASDAQ:NKTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.02). As a group, analysts anticipate that Nkarta will post -1.68 EPS for the current year.

Nkarta Company Profile

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.