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

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

A number of analysts recently weighed in on the stock. Rodman & Renshaw began coverage on shares of Nkarta in a report on Wednesday, October 9th. They issued a “buy” rating and a $14.00 price target for the company. RODMAN&RENSHAW raised Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. HC Wainwright cut their price target on Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Needham & Company LLC lowered their price objective on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, Raymond James raised Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a report on Wednesday, August 14th.

Nkarta Trading Up 14.6 %

Shares of NASDAQ NKTX opened at $2.99 on Thursday. Nkarta has a 1-year low of $2.38 and a 1-year high of $16.24. The company has a 50-day moving average of $3.63 and a two-hundred day moving average of $5.17. The company has a market cap of $211.00 million, a PE ratio of -1.59 and a beta of 0.86.

Institutional Investors Weigh In On Nkarta

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in shares of Nkarta during the 2nd quarter worth about $26,000. GAMMA Investing LLC boosted its stake in Nkarta by 1,887.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after acquiring an additional 4,491 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Nkarta during the third quarter valued at approximately $33,000. The Manufacturers Life Insurance Company increased its stake in Nkarta by 92.9% in the second quarter. The Manufacturers Life Insurance Company now owns 20,710 shares of the company’s stock valued at $122,000 after purchasing an additional 9,975 shares in the last quarter. Finally, Forefront Analytics LLC acquired a new stake in Nkarta in the second quarter worth $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.