Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) PT at $13.60

Key Points

• Nkarta, Inc. has received an average analyst recommendation of “Buy” from seven research firms, with one strong buy, five buy, and one hold rating.
• The average 12-month price target for Nkarta shares is $13.60, while current trading occurs at around $1.91 per share.
• The company reported earnings of ($0.31) per share, which exceeded the consensus estimate of ($0.37) by $0.06.

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) has been given an average rating of "Buy" by the seven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $13.60.

Several research analysts have commented on NKTX shares. Mizuho dropped their price objective on shares of Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Tuesday, June 10th. Needham & Company LLC reaffirmed a "buy" rating and issued a $10.00 price objective on shares of Nkarta in a research note on Wednesday, August 13th. Stifel Nicolaus reduced their target price on shares of Nkarta from $14.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, August 14th. Finally, Wall Street Zen upgraded shares of Nkarta from a "sell" rating to a "hold" rating in a report on Saturday, August 16th.

Nkarta Stock Performance

Shares of Nkarta stock traded up $0.01 during trading on Thursday, hitting $2.00. The company's stock had a trading volume of 1,796,895 shares, compared to its average volume of 563,694. The company has a fifty day simple moving average of $2.10 and a two-hundred day simple moving average of $1.90. The company has a market capitalization of $142.06 million, a PE ratio of -1.35 and a beta of 0.76. Nkarta has a 52 week low of $1.31 and a 52 week high of $5.40.

Nkarta (NASDAQ:NKTX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.06. As a group, analysts predict that Nkarta will post -1.7 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Nkarta in the 1st quarter worth $32,000. Savant Capital LLC acquired a new stake in shares of Nkarta during the 2nd quarter worth about $36,000. ProShare Advisors LLC acquired a new stake in shares of Nkarta during the 4th quarter worth about $45,000. CWM LLC increased its position in shares of Nkarta by 3,437.3% during the 1st quarter. CWM LLC now owns 28,157 shares of the company's stock worth $52,000 after purchasing an additional 27,361 shares during the last quarter. Finally, Cerity Partners LLC acquired a new stake in shares of Nkarta during the 1st quarter worth about $55,000. Hedge funds and other institutional investors own 80.54% of the company's stock.

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.