Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Rating of “Buy” from Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX) have received an average rating of “Buy” from the seven brokerages that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $15.00.

Several equities research analysts recently weighed in on NKTX shares. Rodman & Renshaw started coverage on Nkarta in a report on Wednesday, October 9th. They set a “buy” rating and a $14.00 price objective on the stock. RODMAN&RENSHAW raised Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. HC Wainwright cut their target price on shares of Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Needham & Company LLC decreased their price target 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. Finally, Mizuho cut their price target on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, November 21st.

Institutional Investors Weigh In On Nkarta

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in shares of Nkarta by 110.9% during the 3rd quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock worth $45,000 after buying an additional 5,243 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Nkarta during the 3rd quarter valued at $33,000. The Manufacturers Life Insurance Company boosted its stake 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 acquiring an additional 9,975 shares in the last quarter. Forefront Analytics LLC acquired a new stake in Nkarta in the second quarter worth $70,000. Finally, State Street Corp increased its stake in Nkarta by 1.4% in the third quarter. State Street Corp now owns 1,098,062 shares of the company’s stock valued at $4,963,000 after purchasing an additional 15,569 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Price Performance

Shares of NKTX opened at $2.49 on Friday. The firm has a 50 day simple moving average of $2.55 and a two-hundred day simple moving average of $4.22. Nkarta has a one year low of $2.08 and a one year high of $16.24. The company has a market cap of $175.72 million, a P/E ratio of -1.32 and a beta of 0.85.

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.