Nkarta, Inc. (NASDAQ:NKTX) Receives $13.60 Consensus Price Target from Brokerages

Key Points

• Nkarta, Inc. has a consensus rating of "Buy" among seven analysts, with one rating as hold, five as buy, and one as strong buy, reflecting positive market sentiment.
• The average target price for Nkarta shares is $13.60, significantly higher than its current trading price of $2.37.
• Nkarta's lead product candidate, NKX019, is currently in Phase 1 clinical trials for treating relapsed/refractory non-Hodgkin lymphoma and lupus nephritis.

Shares of Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) have been assigned an average rating of "Buy" from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $13.60.

Several equities research analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and issued a $10.00 price target on shares of Nkarta in a research note on Wednesday, August 13th. Stifel Nicolaus lowered their price objective on shares of Nkarta from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, August 14th. Mizuho lowered their price objective on shares of Nkarta from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 10th. William Blair restated a "market perform" rating on shares of Nkarta in a report on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of Nkarta from a "sell" rating to a "hold" rating in a report on Saturday, August 16th.

Hedge Funds Weigh In On Nkarta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. acquired a new position in Nkarta in the 4th quarter worth approximately $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in Nkarta in the 1st quarter worth approximately $32,000. ProShare Advisors LLC acquired a new position in Nkarta in the 4th quarter worth approximately $45,000. Savant Capital LLC acquired a new position in Nkarta in the 2nd quarter worth approximately $36,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Nkarta by 41.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 23,958 shares of the company's stock worth $60,000 after purchasing an additional 7,030 shares during the period. Institutional investors and hedge funds own 80.54% of the company's stock.

Nkarta Trading Down 0.7%

NASDAQ NKTX traded down $0.02 during mid-day trading on Friday, reaching $2.23. 228,180 shares of the company's stock traded hands, compared to its average volume of 931,610. Nkarta has a 1-year low of $1.31 and a 1-year high of $6.63. The company has a fifty day simple moving average of $1.99 and a 200-day simple moving average of $1.89. The company has a market cap of $158.04 million, a price-to-earnings ratio of -1.50 and a beta of 0.72.

Nkarta (NASDAQ:NKTX - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.06. Equities research analysts forecast that Nkarta will post -1.7 earnings per share for the current fiscal year.

Nkarta Company Profile

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.