Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Nkarta has a consensus analyst rating of "Moderate Buy" from six firms, with an average 12-month price target of $10.75. The mix includes one sell, four buy, and one strong buy rating.
• The stock was trading down 5.0% at $2.65, giving the company a market cap of about $189.6 million. It remains well below its 52-week high of $3.72 and above its 52-week low of $1.70.
• Nkarta reported a quarterly EPS of ($0.37), beating analyst expectations by $0.02, but analysts still expect the company to post a full-year loss of -1.43 EPS. The clinical-stage biotech is focused on off-the-shelf NK cell therapies, with lead program NKX019 in early-stage trials.

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $10.75.

NKTX has been the topic of several research reports. Mizuho lowered their price target on Nkarta from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. Evercore set a $9.00 price objective on Nkarta in a research report on Monday, May 18th. Weiss Ratings reissued a "sell (d-)" rating on shares of Nkarta in a report on Wednesday, June 24th. TD Cowen began coverage on Nkarta in a research report on Tuesday, June 23rd. They set a "buy" rating on the stock. Finally, Wall Street Zen cut Nkarta from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th.

Hedge Funds Weigh In On Nkarta

Hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company bought a new stake in Nkarta in the first quarter valued at about $30,000. Abel Hall LLC bought a new position in Nkarta during the fourth quarter worth about $27,000. Dynamic Technology Lab Private Ltd acquired a new stake in Nkarta during the fourth quarter valued at approximately $37,000. Forefront Analytics LLC boosted its holdings in Nkarta by 41.0% during the third quarter. Forefront Analytics LLC now owns 39,452 shares of the company's stock valued at $82,000 after purchasing an additional 11,473 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Nkarta by 74.9% in the 1st quarter. Sei Investments Co. now owns 40,046 shares of the company's stock valued at $84,000 after purchasing an additional 17,148 shares during the period. 80.54% of the stock is owned by institutional investors.

Nkarta Trading Down 5.0%

Shares of Nkarta stock opened at $2.65 on Wednesday. Nkarta has a 1 year low of $1.70 and a 1 year high of $3.72. The company's fifty day simple moving average is $2.93 and its 200-day simple moving average is $2.53. The company has a market cap of $189.58 million, a price-to-earnings ratio of -1.98 and a beta of 0.90.

Nkarta (NASDAQ:NKTX - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02. As a group, research analysts forecast that Nkarta will post -1.43 earnings per share for the current fiscal year.

Nkarta Company Profile

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.

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