Nkarta's (NKTX) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (e+)" rating for Nkarta (NKTX), indicating ongoing concerns from analysts regarding the company's stock performance.
• Despite some analysts setting buy ratings and target prices between $10.00 to $14.00, the consensus rating remains a "Moderate Buy" with an average price target of $13.50.
• Nkarta's recent quarterly earnings showed a loss per share of ($0.31), which was an improvement over the expected loss and highlights its financial status as it continues its clinical development efforts.

Nkarta (NASDAQ:NKTX - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently issued reports on the company. Wall Street Zen downgraded Nkarta from a "hold" rating to a "sell" rating in a research report on Friday, October 3rd. Needham & Company LLC reiterated a "buy" rating and set a $10.00 price objective on shares of Nkarta in a research report on Wednesday, August 13th. Stifel Nicolaus decreased their target price on shares of Nkarta from $14.00 to $12.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. Finally, Mizuho decreased their target price on shares of Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a research note on Tuesday, June 10th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Nkarta presently has a consensus rating of "Moderate Buy" and an average price target of $13.50.

Nkarta Stock Performance

Shares of NKTX opened at $2.09 on Wednesday. The company has a market capitalization of $148.45 million, a PE ratio of -1.41 and a beta of 0.86. The stock has a fifty day moving average of $2.12 and a two-hundred day moving average of $1.93. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $4.55.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.06. As a group, equities research analysts forecast that Nkarta will post -1.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC boosted its holdings in Nkarta by 118.7% in the 1st quarter. Jane Street Group LLC now owns 134,286 shares of the company's stock valued at $247,000 after purchasing an additional 852,559 shares during the period. Monaco Asset Management SAM bought a new stake in shares of Nkarta in the 1st quarter valued at $1,496,000. Alyeska Investment Group L.P. boosted its stake in shares of Nkarta by 54.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 2,064,956 shares of the company's stock valued at $3,800,000 after purchasing an additional 730,260 shares during the last quarter. AWM Investment Company Inc. boosted its stake in Nkarta by 150.0% during the first quarter. AWM Investment Company Inc. now owns 1,000,000 shares of the company's stock worth $1,840,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Peapod Lane Capital LLC acquired a new position in Nkarta during the first quarter worth $1,101,000. Institutional investors 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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