Nkarta (NASDAQ:NKTX) Shares Down 5% - What's Next?

Key Points

• Nkarta shares fell 5% on Tuesday, trading as low as $2.63 before closing at $2.65 on volume slightly above average.
• Analyst sentiment remains mixed but generally positive: the stock has a Moderate Buy consensus rating and a consensus target price of $10.75, though some firms recently cut targets or issued sell ratings.
• Nkarta is a clinical-stage biotech focused on off-the-shelf NK cell cancer therapies; its lead program, NKX019, is in early-stage trials for relapsed or refractory B-cell malignancies.

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report)'s share price traded down 5% on Tuesday . The stock traded as low as $2.63 and last traded at $2.65. 794,481 shares traded hands during trading, an increase of 5% from the average daily volume of 753,632 shares. The stock had previously closed at $2.79.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NKTX shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $11.00 price target on shares of Nkarta in a report on Wednesday, May 13th. Mizuho lowered their price objective on Nkarta from $14.00 to $12.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. TD Cowen assumed coverage on Nkarta in a report on Tuesday, June 23rd. They issued a "buy" rating for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nkarta in a research note on Wednesday, June 24th. Finally, Wall Street Zen lowered Nkarta from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.75.

Nkarta Trading Down 5.0%

The firm has a market cap of $189.58 million, a price-to-earnings ratio of -1.98 and a beta of 0.90. The stock's fifty day moving average price is $2.93 and its 200-day moving average price is $2.53.

Nkarta (NASDAQ:NKTX - Get Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($0.37) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.02. Analysts predict that Nkarta, Inc. will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On Nkarta

Hedge funds have recently modified their holdings of the business. Peapod Lane Capital LLC raised its holdings in Nkarta by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 676,199 shares of the company's stock valued at $1,251,000 after buying an additional 4,933 shares during the period. BNP Paribas Financial Markets boosted its stake in Nkarta by 4.0% during the second quarter. BNP Paribas Financial Markets now owns 231,081 shares of the company's stock worth $384,000 after buying an additional 8,968 shares during the period. Abel Hall LLC boosted its stake in Nkarta by 65.4% during the first quarter. Abel Hall LLC now owns 24,113 shares of the company's stock worth $51,000 after buying an additional 9,535 shares during the period. Geode Capital Management LLC increased its position in shares of Nkarta by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company's stock valued at $2,006,000 after acquiring an additional 10,065 shares during the last quarter. Finally, Samalin Investment Counsel LLC increased its position in shares of Nkarta by 7.2% during the fourth quarter. Samalin Investment Counsel LLC now owns 150,235 shares of the company's stock valued at $278,000 after acquiring an additional 10,070 shares during the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

About Nkarta

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company's platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta's lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.

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