Nkarta (NASDAQ:NKTX) Receives Buy Rating from Needham & Company LLC

Key Points

• Nkarta (NASDAQ:NKTX) received a "buy" rating from Needham & Company, with a target price of $10.00, suggesting a potential upside of 410.20% from its previous close.
• Current analysts' consensus for Nkarta indicates a buy rating and an average target price of $14.33, highlighting strong investor interest.
• Institutional investors hold 80.54% of Nkarta's stock, with notable increases in stakes by major firms like JPMorgan and Jefferies Financial Group.

Nkarta (NASDAQ:NKTX - Get Free Report)'s stock had its "buy" rating reiterated by equities research analysts at Needham & Company LLC in a research note issued on Wednesday,Benzinga reports. They presently have a $10.00 target price on the stock. Needham & Company LLC's price objective suggests a potential upside of 410.20% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. William Blair restated a "market perform" rating on shares of Nkarta in a research report on Thursday, May 15th. Mizuho reduced their target price on shares of Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $14.33.

Nkarta Trading Down 2.5%

NKTX opened at $1.96 on Wednesday. The stock has a market capitalization of $139.08 million, a PE ratio of -1.30 and a beta of 0.72. Nkarta has a 1-year low of $1.31 and a 1-year high of $6.63. The firm has a 50-day moving average price of $1.91 and a two-hundred day moving average price of $1.89.

Nkarta (NASDAQ:NKTX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.06. On average, research analysts predict that Nkarta will post -1.7 EPS for the current year.

Institutional Trading of Nkarta

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted 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 valued at $6,319,000 after acquiring an additional 1,474,560 shares during the last quarter. Wasatch Advisors LP lifted its stake in Nkarta by 37.4% in the fourth quarter. Wasatch Advisors LP now owns 2,520,909 shares of the company's stock valued at $6,277,000 after acquiring an additional 686,229 shares during the last quarter. Jefferies Financial Group Inc. lifted its stake in Nkarta by 901.7% in the fourth quarter. Jefferies Financial Group Inc. now owns 2,504,219 shares of the company's stock valued at $6,236,000 after acquiring an additional 2,254,219 shares during the last quarter. Tang Capital Management LLC lifted its stake in 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 acquiring an additional 1,643,719 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its stake in Nkarta by 54.7% in the first quarter. Alyeska Investment Group L.P. now owns 2,064,956 shares of the company's stock valued at $3,800,000 after acquiring an additional 730,260 shares during the last quarter. Institutional investors and hedge funds own 80.54% of the company's stock.

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.

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