Nkarta (NASDAQ:NKTX) Rating Lowered to Sell at Wall Street Zen

Key Points

• Nkarta's rating was downgraded from "hold" to "sell" by Wall Street Zen, indicating a negative outlook on the stock's performance.
• The average price target for Nkarta is now $13.60, with various analysts holding differing opinions: one "Strong Buy", five "Buy", one "Hold", and one "Sell".
• Shares of Nkarta experienced a 2.7% decline, trading at approximately $2.13, and marking a 52-week range with a low of $1.31 and a high of $4.55.

Nkarta (NASDAQ:NKTX - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

NKTX has been the subject of a number of other research reports. Stifel Nicolaus reduced their price target on Nkarta from $14.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, August 14th. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price target on shares of Nkarta in a report on Wednesday, August 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Nkarta in a report on Saturday, September 27th. Finally, Mizuho reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Nkarta presently has an average rating of "Moderate Buy" and a consensus target price of $13.60.

Nkarta Trading Down 2.7%

Shares of NASDAQ NKTX traded down $0.06 during mid-day trading on Friday, hitting $2.13. The company had a trading volume of 732,625 shares, compared to its average volume of 699,183. Nkarta has a one year low of $1.31 and a one year high of $4.55. The company has a market capitalization of $151.29 million, a PE ratio of -1.44 and a beta of 0.86. The firm has a 50-day simple moving average of $2.12 and a two-hundred day simple moving average of $1.92.

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

Institutional Investors Weigh In On Nkarta

Institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Nkarta during the first quarter worth approximately $32,000. Bank of America Corp DE boosted its stake in shares of Nkarta by 110.1% in the fourth 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. Nuveen Asset Management LLC boosted its stake in shares of Nkarta by 18.3% in the fourth quarter. Nuveen Asset Management LLC now owns 140,113 shares of the company's stock valued at $349,000 after buying an additional 21,627 shares during the period. Wellington Management Group LLP boosted its stake in shares of Nkarta by 4.1% in the fourth 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 during the period. Finally, Nuveen LLC bought a new stake in shares of Nkarta in the first quarter valued at approximately $258,000. 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.

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