Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Rating of "Buy" from Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) have been given an average recommendation of "Buy" by the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $14.86.

Several equities research analysts have issued reports on the company. Stifel Nicolaus cut their target price on Nkarta from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Nkarta in a research report on Thursday, March 27th. Finally, Needham & Company LLC restated a "buy" rating and issued a $11.00 price objective on shares of Nkarta in a report on Wednesday, April 9th.

Nkarta Trading Down 1.8 %

Nkarta stock traded down $0.04 during midday trading on Monday, hitting $2.18. 926,173 shares of the stock were exchanged, compared to its average volume of 1,097,576. The stock's 50-day simple moving average is $1.77 and its 200 day simple moving average is $2.43. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $8.33. The stock has a market capitalization of $154.69 million, a price-to-earnings ratio of -1.16 and a beta of 0.83.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.41) by $0.06. Equities analysts anticipate that Nkarta will post -1.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Nkarta

A number of hedge funds have recently added to or reduced their stakes in NKTX. Jefferies Financial Group Inc. raised its stake in shares of Nkarta by 901.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company's stock valued at $6,236,000 after acquiring an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC grew its stake in Nkarta by 252.9% during the 4th quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company's stock worth $5,711,000 after purchasing an additional 1,643,719 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Nkarta by 138.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company's stock worth $6,319,000 after purchasing an additional 1,474,560 shares during the period. Wasatch Advisors LP raised its position in Nkarta by 37.4% in the 4th quarter. Wasatch Advisors LP now owns 2,520,909 shares of the company's stock valued at $6,277,000 after purchasing an additional 686,229 shares in the last quarter. Finally, AWM Investment Company Inc. purchased a new position in shares of Nkarta in the 4th quarter valued at about $996,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.