Nkarta, Inc. (NASDAQ:NKTX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Seven brokerages give Nkarta an average “Moderate Buy” rating, with five buys, one strong buy and one sell. The average 12-month price target is $11.20.
• Nkarta shares opened at $2.77, up 2.6%, with a market capitalization of roughly $198 million. The company reported a quarterly loss of $0.54 per share, missing the consensus estimate of a $0.36 loss.
• Institutional investors own 80.54% of Nkarta, while several funds recently initiated positions. The clinical-stage biotech is developing off-the-shelf NK-cell cancer therapies, led by its early-stage NKX019 CAR-NK program.

Shares of Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven ratings firms that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $11.20.

Several analysts recently issued reports on the company. TD Cowen initiated coverage on Nkarta in a research note on Tuesday, June 23rd. They issued a "buy" rating for the company. HC Wainwright lowered their price objective on Nkarta to $14.00 and set a "buy" rating on the stock in a research report on Tuesday, August 11th. Stifel Nicolaus dropped their target price on Nkarta from $11.00 to $10.00 and set a "buy" rating for the company in a report on Friday, August 14th. Wall Street Zen downgraded Nkarta from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Nkarta in a research report on Wednesday, June 24th.

Nkarta Stock Up 2.6%

Shares of NKTX stock opened at $2.77 on Thursday. Nkarta has a 12-month low of $1.70 and a 12-month high of $3.72. The company has a market capitalization of $198.39 million, a PE ratio of -1.76 and a beta of 0.97. The firm has a 50 day moving average price of $2.61 and a two-hundred day moving average price of $2.63.

Nkarta (NASDAQ:NKTX - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.18). As a group, research analysts expect that Nkarta will post -1.6 EPS for the current year.

Institutional Trading of Nkarta

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Abel Hall LLC acquired a new position in shares of Nkarta during the 4th quarter worth approximately $27,000. The Manufacturers Life Insurance Company bought a new position in shares of Nkarta during the first quarter worth approximately $30,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Nkarta during the second quarter worth approximately $30,000. Pallas Capital Advisors LLC acquired a new stake in shares of Nkarta in the second quarter valued at approximately $31,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nkarta in the fourth quarter valued at approximately $37,000. 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.

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