Stifel Nicolaus Lowers Nkarta (NASDAQ:NKTX) Price Target to $12.00

Key Points

• Stifel Nicolaus has lowered its price target for Nkarta (NASDAQ:NKTX) from $14.00 to $12.00, but maintains a "buy" rating, suggesting a potential upside of 442.99% from the current price.
• Analysts' ratings on Nkarta show that the stock has an average rating of "Buy" with a target price of $14.00, indicating strong interest from several equity analysts.
• Institutional investments in Nkarta have surged, with Jefferies Financial Group increasing its position by 901.7% in the last quarter, indicating growing confidence in the company's prospects.

Nkarta (NASDAQ:NKTX - Free Report) had its price target decreased by Stifel Nicolaus from $14.00 to $12.00 in a report published on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

NKTX has been the topic of a number of other reports. William Blair reaffirmed a "market perform" rating on shares of Nkarta in a research note on Thursday, May 15th. Mizuho cut their price objective on Nkarta from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 10th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $13.60.

Nkarta Price Performance

Nkarta stock traded down $0.0650 during mid-day trading on Thursday, hitting $2.2850. 351,371 shares of the company's stock traded hands, compared to its average volume of 953,460. The firm has a 50 day simple moving average of $1.94 and a two-hundred day simple moving average of $1.88. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $6.63. The stock has a market cap of $162.30 million, a price-to-earnings ratio of -1.54 and a beta of 0.72.

Nkarta (NASDAQ:NKTX - Get Free Report) last posted its earnings results on Tuesday, August 12th. The company reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.06. On average, research analysts anticipate that Nkarta will post -1.7 earnings per share for the current fiscal year.

Institutional Trading of Nkarta

Hedge funds and other institutional investors have recently modified their holdings of the company. Invesco Ltd. acquired a new position in Nkarta during the fourth quarter worth $30,000. Wealth Enhancement Advisory Services LLC acquired a new position in Nkarta during the first quarter worth $32,000. Savant Capital LLC acquired a new position in Nkarta during the second quarter worth $36,000. ProShare Advisors LLC acquired a new position in Nkarta during the fourth quarter worth $45,000. Finally, CWM LLC increased its position in Nkarta by 3,437.3% during the first quarter. CWM LLC now owns 28,157 shares of the company's stock worth $52,000 after buying an additional 27,361 shares during the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

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.