Nkarta (NASDAQ:NKTX) Rating Lowered to Sell at Wall Street Zen

Nkarta (NASDAQ:NKTX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Sunday.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus cut their target price on Nkarta from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a report on Friday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of Nkarta in a report on Wednesday, August 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Nkarta has a consensus rating of “Moderate Buy” and a consensus price target of $13.25.

Nkarta Stock Performance

NKTX stock opened at $1.83 on Friday. The stock has a market capitalization of $129.98 million, a PE ratio of -1.33 and a beta of 0.80. The company has a fifty day moving average of $2.05 and a 200-day moving average of $2.00. Nkarta has a one year low of $1.31 and a one year high of $2.74.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.03. Equities analysts forecast that Nkarta will post -1.7 earnings per share for the current fiscal year.

Institutional Trading of Nkarta

A number of institutional investors have recently added to or reduced their stakes in the business. Savant Capital LLC purchased a new stake in shares of Nkarta during the 2nd quarter valued at about $36,000. SG Americas Securities LLC boosted its position in Nkarta by 35.0% in the 3rd quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock valued at $49,000 after buying an additional 6,141 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Nkarta during the third quarter worth about $61,000. CWM LLC increased its position in shares of Nkarta by 23.4% during the second quarter. CWM LLC now owns 34,758 shares of the company’s stock worth $58,000 after acquiring an additional 6,601 shares during the last quarter. Finally, Forefront Wealth Partners LLC acquired a new position in shares of Nkarta in the third quarter worth about $82,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

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.