Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Recommendation of “Buy” from Brokerages

Nkarta, Inc. (NASDAQ:NKTX) has been given a consensus recommendation of “Buy” by the seven analysts that are presently covering the firm, Marketbeat reports. Five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $15.00.

Several equities analysts recently commented on NKTX shares. Mizuho dropped their price objective on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating for the company in a research note on Thursday, November 21st. Rodman & Renshaw started coverage on shares of Nkarta in a research note on Wednesday, October 9th. They issued a “buy” rating and a $14.00 price objective for the company. RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. Needham & Company LLC dropped their price objective on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, HC Wainwright dropped their price objective on shares of Nkarta from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, November 11th.

Insider Activity

In other news, CEO Paul J. Hastings sold 17,378 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total transaction of $38,231.60. Following the completion of the transaction, the chief executive officer now owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Nkarta

Several large investors have recently modified their holdings of the business. Erste Asset Management GmbH acquired a new stake in shares of Nkarta during the third quarter worth $33,000. GAMMA Investing LLC increased its position in shares of Nkarta by 110.9% during the third quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock worth $45,000 after buying an additional 5,243 shares during the period. Forefront Analytics LLC acquired a new stake in shares of Nkarta during the second quarter worth $70,000. Intech Investment Management LLC acquired a new stake in shares of Nkarta during the third quarter worth $74,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Nkarta during the third quarter worth $93,000. Institutional investors own 80.54% of the company’s stock.

Nkarta Stock Up 2.0 %

Shares of NASDAQ:NKTX opened at $2.53 on Friday. The company’s 50 day moving average price is $2.48 and its two-hundred day moving average price is $4.12. Nkarta has a 12-month low of $2.08 and a 12-month high of $16.24. The firm has a market cap of $178.54 million, a PE ratio of -1.35 and a beta of 0.85.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.02). On average, research analysts expect that Nkarta will post -1.68 EPS for the current year.

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.