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

Nkarta (NASDAQ:NKTX) had its price target cut by HC Wainwright from $22.00 to $18.00 in a report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on NKTX. Raymond James upgraded shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Wednesday, August 14th. Rodman & Renshaw started coverage on Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 target price for the company. RODMAN&RENSHAW upgraded Nkarta to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Needham & Company LLC dropped their price objective on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 8th. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $16.50.

Nkarta Stock Performance

Shares of Nkarta stock opened at $2.70 on Monday. The stock has a market cap of $190.54 million, a price-to-earnings ratio of -1.53 and a beta of 0.86. The stock has a 50 day moving average price of $4.26 and a 200-day moving average price of $5.47. Nkarta has a one year low of $2.28 and a one year high of $16.24.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.15. Sell-side analysts predict that Nkarta will post -1.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Nkarta during the 2nd quarter worth $26,000. GAMMA Investing LLC lifted its stake in Nkarta by 1,887.0% in the second 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 period. Bleakley Financial Group LLC grew its holdings in Nkarta by 49.2% during the 1st quarter. Bleakley Financial Group LLC now owns 15,827 shares of the company’s stock worth $171,000 after acquiring an additional 5,219 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Nkarta during the 3rd quarter valued at about $33,000. Finally, The Manufacturers Life Insurance Company raised 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 purchasing an additional 9,975 shares in the last quarter. 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.