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

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) has been assigned a consensus recommendation of "Buy" from the eight analysts that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.33.

Several analysts recently issued reports on NKTX shares. Mizuho reduced their price target on shares of Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a research report on Tuesday, June 10th. HC Wainwright restated a "buy" rating and set a $18.00 price objective on shares of Nkarta in a research note on Thursday, March 27th. Needham & Company LLC dropped their price objective on Nkarta from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, May 15th. William Blair restated a "market perform" rating on shares of Nkarta in a research note on Thursday, May 15th. Finally, Stifel Nicolaus dropped their price objective on Nkarta from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th.

Nkarta Trading Up 0.9%

NASDAQ NKTX opened at $1.76 on Friday. The company has a fifty day simple moving average of $1.84 and a 200 day simple moving average of $1.97. Nkarta has a 12-month low of $1.31 and a 12-month high of $8.23. The company has a market cap of $124.53 million, a P/E ratio of -1.16 and a beta of 0.70.

Nkarta (NASDAQ:NKTX - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.01. Sell-side analysts predict that Nkarta will post -1.7 EPS for the current year.

Institutional Investors Weigh In On Nkarta

A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in shares of Nkarta by 138.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company's stock worth $6,319,000 after purchasing an additional 1,474,560 shares during the period. Wasatch Advisors LP raised its stake in shares of Nkarta by 37.4% during the 4th quarter. Wasatch Advisors LP now owns 2,520,909 shares of the company's stock worth $6,277,000 after purchasing an additional 686,229 shares during the period. Jefferies Financial Group Inc. raised its stake in shares of Nkarta by 901.7% during the 4th quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company's stock worth $6,236,000 after purchasing an additional 2,254,219 shares during the period. Tang Capital Management LLC raised its stake in shares of Nkarta by 252.9% during the 4th quarter. Tang Capital Management LLC now owns 2,293,719 shares of the company's stock worth $5,711,000 after purchasing an additional 1,643,719 shares during the period. Finally, Alyeska Investment Group L.P. raised its stake in shares of Nkarta by 54.7% during the 1st quarter. Alyeska Investment Group L.P. now owns 2,064,956 shares of the company's stock worth $3,800,000 after purchasing an additional 730,260 shares during the period. 80.54% of the stock is currently 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.

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