Nkarta, Inc. (NASDAQ:NKTX) Stock Has Average Price Target of $11.20 According to Brokerages

Key Points

• Analyst sentiment is moderately positive: Seven brokerages give Nkarta a consensus “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 $2.75, compared with a 52-week range of $1.70 to $3.72, 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, and several investment firms recently initiated positions. The clinical-stage biotech is developing engineered natural killer cell therapies, including NKX101 and NKX019.

Shares of Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) have earned an average recommendation of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $11.20.

Several equities analysts have issued reports on the company. Stifel Nicolaus dropped their price target on Nkarta from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Wall Street Zen lowered shares of Nkarta from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 15th. TD Cowen assumed coverage on shares of Nkarta in a report on Tuesday, June 23rd. They issued a "buy" rating for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nkarta in a research report on Monday, September 21st. Finally, HC Wainwright reduced their price target on shares of Nkarta to $14.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th.

Nkarta Price Performance

Nkarta stock opened at $2.75 on Monday. The stock's 50 day moving average is $2.58 and its 200 day moving average is $2.68. Nkarta has a one year low of $1.70 and a one year high of $3.72. The firm has a market cap of $196.96 million, a P/E ratio of -1.75 and a beta of 0.97.

Nkarta (NASDAQ:NKTX - Get Free Report) last issued its quarterly 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). Equities analysts anticipate that Nkarta will post -1.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NKTX. The Manufacturers Life Insurance Company bought a new position in Nkarta during the 1st quarter valued at $30,000. Susquehanna Fundamental Investments LLC bought a new stake in Nkarta during the second quarter worth $30,000. Pallas Capital Advisors LLC purchased a new position in shares of Nkarta in the 2nd quarter worth about $31,000. Spark Investment Management LLC purchased a new stake in Nkarta during the second quarter worth about $33,000. Finally, WINTON GROUP Ltd purchased a new stake in Nkarta during the second quarter worth about $45,000. Institutional investors own 80.54% of the company's stock.

Nkarta Company Profile

Nkarta, Inc is a clinical-stage biotechnology company developing engineered natural killer (NK) cell therapies for the treatment of cancer. The company's approach is designed to use allogeneic, or donor-derived, immune cells that can be manufactured for use across multiple patients, with the goal of providing an off-the-shelf alternative to individualized cell therapies.

Nkarta's product candidates include NKX101, an engineered CAR NK cell therapy designed to recognize NKG2D ligands expressed on certain cancer cells, and NKX019, a CD19-targeted CAR NK cell therapy being developed for B-cell malignancies.

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