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

Key Points

• Analysts hold a “Moderate Buy” consensus on Nkarta, with five buy ratings, one strong buy, and one sell rating. The average 12-month price target is $11.20, substantially above the stock’s $1.74 opening price.
• Nkarta reported a quarterly loss of $0.54 per share, missing the $0.36 consensus estimate, and analysts expect a full-year loss of approximately $1.60 per share.
• The clinical-stage biotechnology company develops engineered CAR-NK cell therapies for cancer and autoimmune diseases; institutional investors and hedge funds own 80.54% of its shares.

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

Several research firms have weighed in on NKTX. Stifel Nicolaus lowered their price target on Nkarta from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nkarta in a report on Monday, September 21st. Wall Street Zen downgraded Nkarta from a "sell" rating to a "strong sell" rating in a report on Saturday, August 15th. Finally, HC Wainwright lowered their target price on shares of Nkarta to $14.00 and set a "buy" rating on the stock in a report on Tuesday, August 11th.

Nkarta Stock Performance

NASDAQ:NKTX opened at $1.74 on Friday. The stock's 50-day simple moving average is $2.54 and its 200 day simple moving average is $2.68. The company has a market cap of $124.62 million, a P/E ratio of -1.11 and a beta of 0.93. Nkarta has a 52-week low of $1.70 and a 52-week high of $3.72.

Nkarta (NASDAQ:NKTX - Get Free Report) last released its earnings results 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, equities analysts predict that Nkarta will post -1.60 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Abel Hall LLC increased its stake in Nkarta by 65.4% during the 1st quarter. Abel Hall LLC now owns 24,113 shares of the company's stock worth $51,000 after acquiring an additional 9,535 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in Nkarta in the 2nd quarter valued at $30,000. Pallas Capital Advisors LLC acquired a new position in Nkarta in the 2nd quarter valued at $31,000. Spark Investment Management LLC bought a new stake in shares of Nkarta during the 2nd quarter valued at $33,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Nkarta during the 1st quarter valued at $30,000. 80.54% of the stock is owned by institutional investors and hedge funds.

About Nkarta

Nkarta, Inc NASDAQ: NKTX is a clinical-stage biotechnology company developing engineered natural killer (NK) cell therapies for cancer and autoimmune diseases. The company's approach is designed to harness the innate immune activity of NK cells while using chimeric antigen receptors (CARs) to direct them toward specific disease-associated targets.

Nkarta's development platform includes allogeneic, or donor-derived, CAR NK cell therapies intended to be manufactured for use across multiple patients.

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