Nkarta (NASDAQ:NKTX) Given New $11.00 Price Target at Needham & Company LLC

Nkarta (NASDAQ:NKTX - Get Free Report) had its price target reduced by equities researchers at Needham & Company LLC from $13.00 to $11.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 244.83% from the company's current price.

A number of other research firms also recently weighed in on NKTX. Raymond James raised shares of Nkarta from an "outperform" rating to a "strong-buy" rating and set a $16.00 price target on the stock in a research note on Wednesday, August 14th. Rodman & Renshaw began coverage on shares of Nkarta in a research note on Wednesday, October 9th. They set a "buy" rating and a $14.00 price target on the stock. HC Wainwright cut their price target on shares of Nkarta from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Finally, RODMAN&RENSHAW raised shares of Nkarta to a "strong-buy" rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $17.17.

Nkarta Stock Down 2.4 %

Shares of NKTX traded down $0.08 on Friday, hitting $3.19. 3,299,549 shares of the stock traded hands, compared to its average volume of 1,146,055. The firm has a market capitalization of $225.09 million, a P/E ratio of -1.61 and a beta of 0.86. The stock's 50 day moving average is $4.43 and its two-hundred day moving average is $5.59. Nkarta has a 1 year low of $1.90 and a 1 year high of $16.24.

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

Institutional Investors Weigh In On Nkarta

Large investors have recently made changes to their positions in the business. Meeder Asset Management Inc. acquired a new stake in shares of Nkarta in the second quarter worth $26,000. GAMMA Investing LLC increased its position in shares of Nkarta by 1,887.0% in the second quarter. GAMMA Investing LLC now owns 4,729 shares of the company's stock worth $28,000 after acquiring an additional 4,491 shares in the last quarter. Forefront Analytics LLC acquired a new stake in shares of Nkarta in the second quarter worth $70,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Nkarta during the 1st quarter valued at $146,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Nkarta during the 1st quarter worth $147,000. Institutional investors and hedge funds 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.