Nkarta (NASDAQ:NKTX) Upgraded by Wall Street Zen to "Hold" Rating

Key Points

• Wall Street Zen has upgraded Nkarta (NASDAQ:NKTX) from a "sell" to a "hold" rating, indicating a shift in investor sentiment.
• Nkarte's share price increased by 5.9%, and it currently has a market capitalization of $165.50 million.
• The consensus rating for Nkarta among analysts is "Moderate Buy," with a price target set at $13.60.

Wall Street Zen upgraded shares of Nkarta (NASDAQ:NKTX - Free Report) from a sell rating to a hold rating in a report released on Saturday.

Several other equities analysts have also recently commented on NKTX. Mizuho lowered their target price 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. Stifel Nicolaus lowered their price objective on shares of Nkarta from $14.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, August 14th. William Blair reissued a "market perform" rating on shares of Nkarta in a research note on Thursday, May 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of Nkarta in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $13.60.

Nkarta Price Performance

Shares of NKTX stock traded down $0.0550 during mid-day trading on Friday, hitting $2.2950. The stock had a trading volume of 406,034 shares, compared to its average volume of 953,790. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $6.63. The firm has a market cap of $163.01 million, a PE ratio of -1.55 and a beta of 0.72. The company's 50-day simple moving average is $1.94 and its 200-day simple moving average is $1.88.

Nkarta (NASDAQ:NKTX - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.06. On average, analysts expect that Nkarta will post -1.7 EPS for the current year.

Institutional Trading of Nkarta

A number of institutional investors have recently added to or reduced their stakes in NKTX. Wealth Enhancement Advisory Services LLC bought a new position in shares of Nkarta in the first quarter valued at approximately $32,000. Bank of America Corp DE increased its position in Nkarta by 110.1% during the fourth quarter. Bank of America Corp DE now owns 380,444 shares of the company's stock worth $947,000 after acquiring an additional 199,345 shares during the period. Deutsche Bank AG increased its holdings in Nkarta by 26.1% in the 4th quarter. Deutsche Bank AG now owns 43,157 shares of the company's stock valued at $107,000 after buying an additional 8,946 shares during the period. Nuveen Asset Management LLC lifted its position in Nkarta by 18.3% during the 4th quarter. Nuveen Asset Management LLC now owns 140,113 shares of the company's stock worth $349,000 after buying an additional 21,627 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Nkarta by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 225,224 shares of the company's stock valued at $561,000 after purchasing an additional 8,883 shares during the period. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.