Nkarta (NASDAQ:NKTX) Coverage Initiated by Analysts at HC Wainwright

Key Points

• HC Wainwright initiated coverage of Nkarta with a “Buy” rating. Analysts overall give the stock a “Moderate Buy” consensus, with an average price target of $11.20.
• Nkarta shares opened at $1.56, near their 52-week low of $1.54, while the company reported a quarterly loss of $0.54 per share—$0.18 worse than analyst expectations.
• Institutional investors own 80.54% of Nkarta’s shares. BlackRock and several other funds established new positions during the second quarter, led by BlackRock’s stake valued at approximately $17.8 million.

Research analysts at HC Wainwright assumed coverage on shares of Nkarta (NASDAQ:NKTX - Get Free Report) in a research note issued to investors on Monday, Benzinga reports. The brokerage set a "buy" rating on the stock.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus cut their target price on shares of Nkarta from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Nkarta in a research note on Monday, September 21st. Finally, Wall Street Zen downgraded Nkarta from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Nkarta has an average rating of "Moderate Buy" and a consensus price target of $11.20.

Nkarta Price Performance

Shares of Nkarta stock opened at $1.56 on Monday. Nkarta has a 1 year low of $1.54 and a 1 year high of $3.72. The company has a market capitalization of $111.73 million, a P/E ratio of -0.99 and a beta of 1.24. The business has a 50 day moving average price of $2.44 and a 200 day moving average price of $2.53.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.18). As a group, research analysts expect that Nkarta will post -1.60 EPS for the current fiscal year.

Institutional Trading of Nkarta

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Nkarta during the second quarter valued at $17,830,000. Monaco Asset Management SAM acquired a new stake in Nkarta during the 2nd quarter worth about $6,717,000. AWM Investment Company Inc. acquired a new stake in Nkarta during the 2nd quarter worth about $2,564,000. Forefront Analytics LLC purchased a new stake in Nkarta during the second quarter valued at about $82,000. Finally, Ieq Capital LLC purchased a new stake in Nkarta during the second quarter valued at about $501,000. 80.54% of the stock is currently owned by 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.

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