Wall Street Zen Upgrades Nkarta (NASDAQ:NKTX) to Hold

Key Points

• Wall Street Zen upgraded Nkarta (NASDAQ:NKTX) from a "sell" to a "hold" rating, indicating a more cautious outlook on the stock.
• Analysts from Stifel Nicolaus and Needham & Company have differing views on the stock, with Stifel reducing its price target from $14.00 to $12.00 while Needham maintains a price objective of $10.00.
• Nkata's stock has fluctuated between a 1-year low of $1.31 and a high of $3.81, currently trading at approximately $2.41.

Nkarta (NASDAQ:NKTX - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

NKTX has been the subject of a number of other research reports. Stifel Nicolaus reduced their price objective on Nkarta from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, August 14th. 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. Finally, Weiss Ratings reiterated a "sell (e+)" rating on shares of Nkarta in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $13.50.

Nkarta Price Performance

NKTX stock opened at $2.41 on Friday. Nkarta has a 1-year low of $1.31 and a 1-year high of $3.81. The business has a fifty day moving average price of $2.18 and a 200-day moving average price of $1.99. The stock has a market capitalization of $171.18 million, a P/E ratio of -1.63 and a beta of 0.86.

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

Institutional Trading of Nkarta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC purchased a new stake in Nkarta in the first quarter worth about $32,000. Savant Capital LLC purchased a new stake in Nkarta in the second quarter worth about $36,000. SG Americas Securities LLC boosted its stake in shares of Nkarta by 35.0% in the third quarter. SG Americas Securities LLC now owns 23,663 shares of the company's stock worth $49,000 after acquiring an additional 6,141 shares during the period. CWM LLC boosted its stake in shares of Nkarta by 3,437.3% in the first quarter. CWM LLC now owns 28,157 shares of the company's stock worth $52,000 after acquiring an additional 27,361 shares during the period. Finally, Cerity Partners LLC bought a new position in shares of Nkarta in the first quarter worth about $55,000. Hedge funds and other institutional investors 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.

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