Nkarta (NASDAQ:NKTX) Upgraded at Wall Street Zen

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 morning.

Several other brokerages have also recently commented on NKTX. William Blair restated a "market perform" rating on shares of Nkarta in a report on Thursday, May 15th. Stifel Nicolaus decreased their target price on Nkarta from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Thursday, August 14th. Mizuho decreased their target price on Nkarta from $16.00 to $14.00 and set an "outperform" rating on the stock in a report on Tuesday, June 10th. Finally, Needham & Company LLC restated a "buy" rating and set a $10.00 target price on shares of Nkarta in a report on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $13.60.

Nkarta Price Performance

Shares of NKTX stock traded down $0.04 during trading hours on Friday, hitting $2.26. 398,172 shares of the company's stock were exchanged, compared to its average volume of 569,603. The stock's 50-day moving average is $1.95 and its 200-day moving average is $1.89. The stock has a market cap of $160.53 million, a price-to-earnings ratio of -1.53 and a beta of 0.72. Nkarta has a 52 week low of $1.31 and a 52 week high of $6.63.

Nkarta (NASDAQ:NKTX - Get Free Report) last announced 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. Equities research analysts forecast that Nkarta will post -1.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nkarta

Hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new position in Nkarta in the first quarter valued at about $32,000. Bank of America Corp DE lifted its stake in Nkarta by 110.1% in the fourth quarter. Bank of America Corp DE now owns 380,444 shares of the company's stock valued at $947,000 after buying an additional 199,345 shares during the period. Deutsche Bank AG lifted its stake in Nkarta by 26.1% in the fourth 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 stake in Nkarta by 18.3% in the fourth quarter. Nuveen Asset Management LLC now owns 140,113 shares of the company's stock valued at $349,000 after buying an additional 21,627 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Nkarta by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 225,224 shares of the company's stock valued at $561,000 after buying an additional 8,883 shares during the period. 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.