Nkarta, Inc. (NASDAQ:NKTX) Stock Has Consensus Target Price of $11.20

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.20.

NKTX has been the topic of a number of recent research reports. HC Wainwright reduced their price target on shares of Nkarta to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Stifel Nicolaus dropped their price objective on shares of Nkarta from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Wall Street Zen lowered shares of Nkarta from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research note on Monday, September 21st.

Nkarta Price Performance

Nkarta stock opened at $1.79 on Friday. The stock’s 50-day moving average is $2.53 and its 200-day moving average is $2.67. The company has a market cap of $128.20 million, a price-to-earnings ratio of -1.14 and a beta of 0.93. Nkarta has a 12 month low of $1.66 and a 12 month high of $3.72.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.18). Research analysts anticipate that Nkarta will post -1.60 EPS for the current year.

Institutional Investors Weigh In On Nkarta

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Nkarta in the second quarter worth $17,830,000. Monaco Asset Management SAM acquired a new position in Nkarta during the 2nd quarter worth $6,717,000. AWM Investment Company Inc. acquired a new position in Nkarta during the 2nd quarter worth $2,564,000. Ieq Capital LLC bought a new stake in shares of Nkarta in the 2nd quarter worth about $501,000. Finally, Forefront Analytics LLC bought a new stake in shares of Nkarta in the 2nd quarter worth about $82,000. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

About Nkarta

Nkarta, Inc is a clinical-stage biotechnology company focused on developing engineered natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s platform is designed to produce allogeneic, or donor-derived, NK cells that can be engineered with chimeric antigen receptors (CARs) to recognize and attack targeted cells.

Nkarta’s research and development programs have included NKX019, a CD19-targeted CAR NK-cell therapy investigated for B-cell malignancies and autoimmune disorders, and NKX101, an NKG2D-targeted CAR NK-cell therapy developed for certain solid tumors.