Nkarta, Inc. (NASDAQ:NKTX) Receives $17.50 Consensus Price Target from Brokerages

Nkarta, Inc. (NASDAQ:NKTX) has received an average rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $17.50.

A number of research firms have recently issued reports on NKTX. Raymond James upgraded shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, August 14th. Needham & Company LLC reissued a “buy” rating and issued a $13.00 price objective on shares of Nkarta in a research report on Wednesday, August 14th. HC Wainwright dropped their target price on Nkarta from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Rodman & Renshaw began 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, RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th.

Insider Transactions at Nkarta

In related news, insider Alicia J. Hager sold 3,396 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $8.00, for a total transaction of $27,168.00. Following the completion of the transaction, the insider now owns 103,819 shares in the company, valued at $830,552. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Nkarta

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of 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. SG Americas Securities LLC bought a new stake in shares of Nkarta in the 3rd quarter worth approximately $93,000. Forefront Analytics LLC acquired a new stake in Nkarta during the second quarter valued at approximately $70,000. The Manufacturers Life Insurance Company boosted its holdings in Nkarta by 92.9% during the second quarter. The Manufacturers Life Insurance Company now owns 20,710 shares of the company’s stock worth $122,000 after buying an additional 9,975 shares in the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Nkarta in the second quarter valued at $938,000. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Nkarta Price Performance

NASDAQ NKTX opened at $3.89 on Wednesday. Nkarta has a 1-year low of $1.45 and a 1-year high of $16.24. The firm has a market capitalization of $192.23 million, a P/E ratio of -1.66 and a beta of 0.80. The business’s 50-day simple moving average is $5.04 and its 200-day simple moving average is $6.26.

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

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.