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

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) has received an average rating of "Buy" from the eight analysts that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $14.67.

A number of research analysts have issued reports on NKTX shares. Needham & Company LLC decreased their target price on shares of Nkarta from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday. HC Wainwright reiterated a "buy" rating and set a $18.00 price target on shares of Nkarta in a report on Thursday, March 27th. William Blair restated a "market perform" rating on shares of Nkarta in a report on Thursday. Finally, Stifel Nicolaus dropped their target price on shares of Nkarta from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, March 27th.

Nkarta Stock Performance

Shares of NKTX stock opened at $1.72 on Friday. The firm's 50-day moving average is $1.79 and its 200-day moving average is $2.22. The stock has a market cap of $122.05 million, a price-to-earnings ratio of -0.91 and a beta of 0.81. Nkarta has a 52-week low of $1.31 and a 52-week high of $8.23.

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

Hedge Funds Weigh In On Nkarta

A number of institutional investors have recently made changes to their positions in NKTX. JPMorgan Chase & Co. boosted its position in Nkarta by 138.7% during the 4th quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company's stock valued at $6,319,000 after buying an additional 1,474,560 shares during the period. Wasatch Advisors LP boosted 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 valued at $6,277,000 after purchasing an additional 686,229 shares in the last quarter. Jefferies Financial Group Inc. boosted 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 valued at $6,236,000 after purchasing an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC boosted 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 valued at $5,711,000 after purchasing an additional 1,643,719 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in shares of Nkarta by 23.0% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,334,696 shares of the company's stock valued at $3,323,000 after purchasing an additional 250,000 shares in the last quarter. Institutional investors own 80.54% of the company's stock.

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.

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