Nkarta (NASDAQ:NKTX) Shares Up 3% - Should You Buy?

Nkarta, Inc. (NASDAQ:NKTX - Get Free Report) shares were up 3% on Tuesday . The company traded as high as $1.77 and last traded at $1.71. Approximately 364,666 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,033,809 shares. The stock had previously closed at $1.66.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC lowered their price target on Nkarta from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, May 15th. HC Wainwright reaffirmed a "buy" rating and set a $18.00 target price on shares of Nkarta in a research note on Thursday, March 27th. Stifel Nicolaus dropped their price target on shares of Nkarta from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. William Blair restated a "market perform" rating on shares of Nkarta in a research report on Thursday, May 15th. Finally, Mizuho lowered their price objective on shares of Nkarta from $16.00 to $14.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 10th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $14.33.

Nkarta Trading Up 2.0%

The stock has a fifty day moving average of $1.85 and a 200-day moving average of $1.97. The firm has a market capitalization of $125.95 million, a price-to-earnings ratio of -1.18 and a beta of 0.70.

Nkarta (NASDAQ:NKTX - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.43) earnings per share for the quarter, beating analysts' consensus estimates of ($0.44) by $0.01. As a group, equities research analysts forecast that Nkarta, Inc. will post -1.7 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nkarta

Large investors have recently made changes to their positions in the company. Invesco Ltd. acquired a new position in Nkarta in the 4th quarter worth approximately $30,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Nkarta in the fourth quarter valued at $31,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Nkarta in the first quarter valued at $32,000. ProShare Advisors LLC acquired a new stake in shares of Nkarta in the fourth quarter worth $45,000. Finally, CWM LLC grew its holdings in shares of Nkarta by 3,437.3% during the first quarter. CWM LLC now owns 28,157 shares of the company's stock valued at $52,000 after buying an additional 27,361 shares in the last quarter. Institutional investors and hedge funds 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.