Brokerages Set Nkarta, Inc. (NASDAQ:NKTX) PT at $14.33

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 received a consensus recommendation of "Buy" from the eight analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $14.33.

Several research firms have issued reports on NKTX. Needham & Company LLC dropped their price objective on Nkarta from $11.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, May 15th. Mizuho decreased their target price on Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Tuesday, June 10th. Finally, William Blair reiterated a "market perform" rating on shares of Nkarta in a research note on Thursday, May 15th.

Nkarta Trading Up 5.8%

Shares of NASDAQ NKTX traded up $0.12 during trading hours on Wednesday, reaching $2.18. The stock had a trading volume of 789,551 shares, compared to its average volume of 534,073. The firm has a market cap of $154.69 million, a price-to-earnings ratio of -1.44 and a beta of 0.70. The firm has a 50-day moving average of $1.85 and a 200-day moving average of $1.91. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $6.74.

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

Institutional Investors Weigh In On Nkarta

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new position in Nkarta during the first quarter worth approximately $32,000. Wellington Management Group LLP raised its holdings in Nkarta by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 225,224 shares of the company's stock worth $561,000 after buying an additional 8,883 shares during the period. Bank of America Corp DE boosted its stake in shares of Nkarta by 110.1% during the 4th quarter. Bank of America Corp DE now owns 380,444 shares of the company's stock valued at $947,000 after buying an additional 199,345 shares during the period. JPMorgan Chase & Co. raised its position in Nkarta by 138.7% during the fourth quarter. JPMorgan Chase & Co. now owns 2,537,922 shares of the company's stock valued at $6,319,000 after acquiring an additional 1,474,560 shares in the last quarter. Finally, Deutsche Bank AG boosted its stake in Nkarta by 26.1% during the 4th quarter. Deutsche Bank AG now owns 43,157 shares of the company's stock valued at $107,000 after purchasing an additional 8,946 shares during the period. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.