Nkarta, Inc. (NASDAQ:NKTX) Receives Average Recommendation of "Buy" from Analysts

Shares of Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) have earned a consensus recommendation of "Buy" from the eight analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $14.33.

NKTX has been the topic of several research reports. Stifel Nicolaus reduced their price target on shares of Nkarta from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. 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. 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, May 15th. HC Wainwright reiterated a "buy" rating and issued a $18.00 price target on shares of Nkarta in a research report on Thursday, March 27th. Finally, William Blair reissued a "market perform" rating on shares of Nkarta in a research note on Thursday, May 15th.

Nkarta Stock Down 2.6%

NASDAQ:NKTX traded down $0.05 on Tuesday, reaching $1.86. 458,497 shares of the company's stock traded hands, compared to its average volume of 1,059,978. The stock has a 50-day simple moving average of $1.84 and a 200-day simple moving average of $2.06. Nkarta has a 12 month low of $1.31 and a 12 month high of $8.23. The firm has a market cap of $131.98 million, a PE ratio of -0.99 and a beta of 0.72.

Nkarta (NASDAQ:NKTX - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.01. On average, equities analysts anticipate that Nkarta will post -1.7 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Jefferies Financial Group Inc. grew its stake in Nkarta by 901.7% in the 4th quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company's stock worth $6,236,000 after acquiring an additional 2,254,219 shares in the last quarter. Tang Capital Management LLC boosted its holdings in shares of Nkarta by 252.9% in the fourth 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 during the period. JPMorgan Chase & Co. grew its stake in Nkarta by 138.7% in the fourth 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 in the last quarter. Jane Street Group LLC increased its holdings in Nkarta by 118.7% during the 1st quarter. Jane Street Group LLC now owns 134,286 shares of the company's stock worth $247,000 after purchasing an additional 852,559 shares during the period. Finally, Monaco Asset Management SAM purchased a new position in Nkarta during the 1st quarter worth $1,496,000. 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.