HC Wainwright Cuts Nkarta (NASDAQ:NKTX) Price Target to $18.00

Nkarta (NASDAQ:NKTX) had its target price decreased by HC Wainwright from $22.00 to $18.00 in a research note released on Monday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Needham & Company LLC lowered their price objective on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Rodman & Renshaw started coverage on shares of Nkarta in a research note on Wednesday, October 9th. They set a “buy” rating and a $14.00 price objective for the company. RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Raymond James raised shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a research note on Wednesday, August 14th. Five analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.50.

Nkarta Trading Down 4.6 %

NASDAQ:NKTX opened at $2.91 on Monday. The stock has a market capitalization of $205.36 million, a price-to-earnings ratio of -1.55 and a beta of 0.86. The firm has a fifty day simple moving average of $4.31 and a two-hundred day simple moving average of $5.48. Nkarta has a 12 month low of $2.01 and a 12 month high of $16.24.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.15. Equities analysts predict that Nkarta will post -1.94 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nkarta

Institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. increased its position in Nkarta by 38.4% in the first quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock worth $116,803,000 after purchasing an additional 3,000,000 shares during the last quarter. SR One Capital Management LP increased its position in Nkarta by 150.0% in the first quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock worth $36,033,000 after purchasing an additional 2,000,000 shares during the last quarter. Vanguard Group Inc. increased its position in Nkarta by 26.0% in the first quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock worth $21,255,000 after purchasing an additional 405,753 shares during the last quarter. Renaissance Technologies LLC increased its position in Nkarta by 12.0% in the second quarter. Renaissance Technologies LLC now owns 912,872 shares of the company’s stock worth $5,395,000 after purchasing an additional 98,000 shares during the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Nkarta during the first quarter worth $9,072,000. 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.