Nkarta, Inc. (NASDAQ:NKTX) Given Average Rating of “Buy” by Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX) have been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $15.00.

NKTX has been the subject of several research analyst reports. RODMAN&RENSHAW upgraded Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th. Needham & Company LLC lowered their price objective on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Mizuho reduced their target price on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Rodman & Renshaw initiated coverage on Nkarta in a report on Wednesday, October 9th. They issued a “buy” rating and a $14.00 price target for the company. Finally, HC Wainwright reduced their price objective on Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, November 11th.

Nkarta Stock Performance

Shares of NKTX stock opened at $2.41 on Monday. The stock has a 50 day moving average price of $2.84 and a 200 day moving average price of $4.51. Nkarta has a 52-week low of $2.08 and a 52-week high of $16.24. The firm has a market capitalization of $170.07 million, a P/E ratio of -1.28 and a beta of 0.82.

Institutional Trading of Nkarta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in shares of Nkarta during the 2nd quarter worth $26,000. GAMMA Investing LLC raised its holdings in Nkarta by 110.9% in the third quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock worth $45,000 after purchasing an additional 5,243 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in shares of Nkarta during the third quarter valued at about $33,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Nkarta by 92.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,710 shares of the company’s stock valued at $122,000 after buying an additional 9,975 shares in the last quarter. Finally, Forefront Analytics LLC purchased a new position in shares of Nkarta in the 2nd quarter worth approximately $70,000. 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.