Nkarta (NASDAQ:NKTX) Price Target Cut to $11.00 by Analysts at Needham & Company LLC

Nkarta (NASDAQ:NKTX) had its target price cut by Needham & Company LLC from $13.00 to $11.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on the stock. HC Wainwright dropped their target price on shares of Nkarta from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. RODMAN&RENSHAW upgraded shares of Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. Raymond James upgraded shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, August 14th. Finally, Rodman & Renshaw started coverage on shares of Nkarta in a research note on Wednesday, October 9th. They issued a “buy” rating and a $14.00 target price on the stock. Five analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $17.17.

Nkarta Stock Down 2.4 %

Shares of NASDAQ NKTX traded down $0.08 during midday trading on Friday, reaching $3.19. 3,299,964 shares of the company were exchanged, compared to its average volume of 799,036. The stock has a market cap of $225.09 million, a P/E ratio of -1.59 and a beta of 0.86. The stock’s 50-day moving average price is $4.39 and its 200-day moving average price is $5.56. Nkarta has a one year low of $1.90 and a one year high of $16.24.

Nkarta (NASDAQ:NKTX) last released its earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.15. On average, equities research analysts anticipate that Nkarta will post -1.92 EPS for the current year.

Institutional Trading of Nkarta

Institutional investors and hedge funds have recently bought and sold shares of the company. RA Capital Management L.P. increased its holdings in shares of Nkarta by 38.4% in the 1st quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock worth $116,803,000 after buying an additional 3,000,000 shares during the last quarter. SR One Capital Management LP raised its position in Nkarta by 150.0% in the 1st 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 period. Vanguard Group Inc. raised its position in Nkarta by 26.0% in the 1st 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 period. Renaissance Technologies LLC raised its position in Nkarta by 12.0% in the 2nd 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 period. Finally, Janus Henderson Group PLC purchased a new position in Nkarta in the 1st quarter worth $9,072,000. 80.54% of the stock is currently owned by hedge funds and other institutional investors.

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.