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

Key Points

• Nkarta, Inc. has received a consensus rating of "Buy" from analysts, with an average twelve-month target price of $14.33.
• Hedge funds and institutional investors own 80.54% of Nkarta's stock, with notable increases in stakes from firms like CWM LLC and AQR Capital Management.
• The company's lead product candidate, NKX019, is currently in Phase 1 clinical trials aimed at treating relapsed/refractory non-hodgkin lymphoma and lupus nephritis.

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

NKTX has been the subject of several research analyst reports. Mizuho cut their price target on Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Tuesday, June 10th. William Blair reiterated a "market perform" rating on shares of Nkarta in a report on Thursday, May 15th. Finally, Needham & Company LLC dropped their target price on Nkarta from $11.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, May 15th.

Nkarta Stock Down 2.3%

NASDAQ NKTX traded down $0.05 during trading on Wednesday, hitting $2.12. 472,909 shares of the stock traded hands, compared to its average volume of 567,093. The company has a market capitalization of $150.44 million, a P/E ratio of -1.40 and a beta of 0.72. The firm has a 50-day simple moving average of $1.87 and a 200-day simple moving average of $1.91. Nkarta has a 12-month low of $1.31 and a 12-month high of $6.63.

Nkarta (NASDAQ:NKTX - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.01. As a group, research analysts predict that Nkarta will post -1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Nkarta

A number of large investors have recently bought and sold shares of NKTX. Thrivent Financial for Lutherans purchased a new position in Nkarta during the 4th quarter valued at $258,000. American Century Companies Inc. raised its position in shares of Nkarta by 8.8% in the 4th quarter. American Century Companies Inc. now owns 90,952 shares of the company's stock worth $226,000 after acquiring an additional 7,378 shares in the last quarter. Sei Investments Co. acquired a new position in Nkarta during the 4th quarter valued at about $57,000. JPMorgan Chase & Co. increased 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 in the last quarter. Finally, Wellington Management Group LLP increased its position in Nkarta by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 225,224 shares of the company's stock valued at $561,000 after buying an additional 8,883 shares in the last quarter. Hedge funds and other 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.