Needham & Company LLC Lowers Nkarta (NASDAQ:NKTX) Price Target to $13.00

Nkarta (NASDAQ:NKTX - Free Report) had its price objective cut by Needham & Company LLC from $15.00 to $13.00 in a research report released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

NKTX has been the topic of several other research reports. Raymond James reaffirmed an outperform rating and issued a $16.00 price target (up previously from $13.00) on shares of Nkarta in a research report on Friday, March 22nd. Mizuho cut their price objective on Nkarta from $31.00 to $25.00 and set a buy rating on the stock in a research report on Friday, March 22nd. HC Wainwright raised their price target on shares of Nkarta from $22.00 to $23.00 and gave the stock a buy rating in a research note on Monday. Finally, Canaccord Genuity Group cut their target price on shares of Nkarta from $16.00 to $15.00 and set a buy rating for the company in a research report on Friday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus price target of $17.83.

Nkarta Stock Performance

Shares of NKTX traded up $0.33 during mid-day trading on Monday, reaching $6.58. The company had a trading volume of 905,974 shares, compared to its average volume of 1,751,952. Nkarta has a 1-year low of $1.28 and a 1-year high of $16.24. The company has a market capitalization of $325.18 million, a price-to-earnings ratio of -2.74 and a beta of 0.88. The company's 50 day simple moving average is $9.66 and its 200 day simple moving average is $7.37.

Nkarta (NASDAQ:NKTX - Get Free Report) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.57) earnings per share for the quarter, topping analysts' consensus estimates of ($0.62) by $0.05. As a group, equities analysts forecast that Nkarta will post -2.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nkarta news, Director Simeon George purchased 2,000,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was acquired at an average price of $10.00 per share, with a total value of $20,000,000.00. Following the transaction, the director now directly owns 1,548,341 shares of the company's stock, valued at approximately $15,483,410. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Nkarta

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bourgeon Capital Management LLC bought a new position in Nkarta in the 4th quarter worth $30,000. Bleakley Financial Group LLC purchased a new position in shares of Nkarta during the fourth quarter valued at about $70,000. Simplicity Solutions LLC purchased a new position in shares of Nkarta during the fourth quarter valued at about $70,000. SG Americas Securities LLC purchased a new position in shares of Nkarta during the fourth quarter valued at about $72,000. Finally, Sierra Summit Advisors LLC purchased a new stake in Nkarta during the fourth quarter valued at approximately $78,000. 80.54% of the stock is owned by institutional investors.

About Nkarta

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.