Nkarta (NASDAQ:NKTX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen downgraded shares of Nkarta (NASDAQ:NKTX) from a sell rating to a strong sell rating in a research note released on Saturday morning.

Other research analysts have also issued reports about the company. TD Cowen began coverage on Nkarta in a report on Tuesday, June 23rd. They issued a “buy” rating on the stock. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Nkarta in a report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. Evercore set a $9.00 price target on shares of Nkarta in a research note on Monday, May 18th. Finally, Mizuho lowered their price target on shares of Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.75.

Nkarta Stock Down 0.4%

Shares of NASDAQ:NKTX opened at $2.26 on Friday. Nkarta has a 12-month low of $1.70 and a 12-month high of $3.72. The stock has a market cap of $161.68 million, a PE ratio of -1.69 and a beta of 0.90. The business has a 50 day moving average of $2.83 and a 200-day moving average of $2.57.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.02. Equities research analysts expect that Nkarta will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On Nkarta

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in shares of Nkarta in the 1st quarter valued at $30,000. Abel Hall LLC bought a new stake in shares of Nkarta during the 4th quarter worth $27,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nkarta during the 4th quarter worth $37,000. Sei Investments Co. boosted its stake in Nkarta by 74.9% in the first quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock valued at $84,000 after buying an additional 17,148 shares in the last quarter. Finally, Prelude Capital Management LLC acquired a new stake in Nkarta in the third quarter valued at about $90,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

About Nkarta

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.