Nkarta, Inc. (NASDAQ:NKTX) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts rate Nkarta “Moderate Buy” overall: Four analysts issued buy ratings, one rated it a strong buy and one issued a sell rating. The average 12-month price target is $10.75, substantially above the reported share price of $2.41.
• Nkarta reported a quarterly loss of $0.37 per share, beating the consensus estimate of a $0.39 loss. Analysts expect a full-year loss of approximately $1.43 per share.
• Institutional ownership is significant: Institutional investors and hedge funds own 80.54% of the company, with BlackRock, GSK and Monaco Asset Management among recent investors. Nkarta is developing off-the-shelf CAR-NK cell therapies, led by its early-stage NKX019 program for B-cell malignancies.

Shares of Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six brokerages that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $10.75.

A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Nkarta in a research note on Wednesday, June 24th. Needham & Company LLC reissued a "buy" rating and set a $11.00 target price on shares of Nkarta in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Nkarta from a "strong sell" rating to a "sell" rating in a research note on Sunday, August 2nd. Evercore set a $9.00 price target on shares of Nkarta in a research report on Monday, May 18th. Finally, TD Cowen started coverage on shares of Nkarta in a research note on Tuesday, June 23rd. They issued a "buy" rating for the company.

Nkarta Price Performance

NKTX opened at $2.41 on Friday. The stock's 50 day moving average price is $2.68 and its 200 day moving average price is $2.58. The stock has a market cap of $172.41 million, a P/E ratio of -1.80 and a beta of 0.93. Nkarta has a 12 month low of $1.70 and a 12 month high of $3.72.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.39) by $0.02. Equities analysts anticipate that Nkarta will post -1.43 EPS for the current year.

Institutional Investors Weigh In On Nkarta

A number of institutional investors have recently added to or reduced their stakes in NKTX. BlackRock Inc. bought a new position in shares of Nkarta during the 2nd quarter valued at about $17,830,000. GSK plc bought a new stake in shares of Nkarta in the 4th quarter worth approximately $5,829,000. Monaco Asset Management SAM bought a new stake in shares of Nkarta in the 2nd quarter worth approximately $6,717,000. Jane Street Group LLC lifted its stake in Nkarta by 118.7% during the first quarter. Jane Street Group LLC now owns 134,286 shares of the company's stock valued at $247,000 after purchasing an additional 852,559 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in Nkarta during the third quarter valued at approximately $1,549,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source