Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) Price Target at $17.50

Shares of Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) have been assigned an average recommendation of "Buy" from the seven research firms that are presently covering the stock, Marketbeat Ratings 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 price target among brokerages that have issued ratings on the stock in the last year is $17.50.

Several analysts have issued reports on NKTX shares. Raymond James raised Nkarta from an "outperform" rating to a "strong-buy" rating and set a $16.00 target price on the stock in a research report on Wednesday, August 14th. Rodman & Renshaw assumed coverage on Nkarta in a research note on Wednesday, October 9th. They issued a "buy" rating and a $14.00 target price on the stock. RODMAN&RENSHAW raised shares of Nkarta to a "strong-buy" rating in a research report on Wednesday, October 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Nkarta in a research report on Wednesday, August 14th. Finally, HC Wainwright decreased their target price on shares of Nkarta from $23.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, August 15th.

Nkarta Stock Up 3.6 %

NASDAQ:NKTX traded up $0.11 during mid-day trading on Friday, reaching $3.19. The company's stock had a trading volume of 501,073 shares, compared to its average volume of 765,273. Nkarta has a 1 year low of $1.89 and a 1 year high of $16.24. The stock has a fifty day moving average of $4.61 and a 200-day moving average of $5.68. The firm has a market capitalization of $225.09 million, a PE ratio of -1.59 and a beta of 0.87.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.15. On average, analysts expect that Nkarta will post -1.92 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NKTX. RA Capital Management L.P. raised its stake in shares of Nkarta by 38.4% in the first quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company's stock worth $116,803,000 after purchasing an additional 3,000,000 shares during the last quarter. SR One Capital Management LP raised its position in Nkarta by 150.0% during the 1st quarter. SR One Capital Management LP now owns 3,333,333 shares of the company's stock worth $36,033,000 after buying an additional 2,000,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in Nkarta by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company's stock valued at $21,255,000 after acquiring an additional 405,753 shares during the period. Renaissance Technologies LLC lifted its stake in Nkarta by 12.0% during the 2nd quarter. Renaissance Technologies LLC now owns 912,872 shares of the company's stock valued at $5,395,000 after acquiring an additional 98,000 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in shares of Nkarta in the 1st quarter valued at $9,072,000. Hedge funds and other institutional investors own 80.54% of the company's stock.

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.