Nkarta (NASDAQ:NKTX) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Nkarta (NASDAQ:NKTX) in a report issued on Friday, Benzinga reports. The brokerage currently has a $13.00 price objective on the stock.

Several other research firms have also weighed in on NKTX. HC Wainwright reissued a buy rating and issued a $23.00 target price on shares of Nkarta in a research note on Thursday. Raymond James reissued an outperform rating and issued a $16.00 target price (up previously from $13.00) on shares of Nkarta in a research note on Friday, March 22nd. Canaccord Genuity Group cut their target price on Nkarta from $16.00 to $15.00 and set a buy rating on the stock in a research note on Friday, May 10th. Finally, Mizuho cut their target price on Nkarta from $31.00 to $25.00 and set a buy rating on the stock in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nkarta currently has an average rating of Buy and an average target price of $17.83.

Nkarta Stock Up 0.9 %

Shares of NKTX opened at $5.91 on Friday. Nkarta has a 12-month low of $1.28 and a 12-month high of $16.24. The stock’s fifty day simple moving average is $6.52 and its 200-day simple moving average is $8.25.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.02). As a group, sell-side analysts predict that Nkarta will post -2.27 EPS for the current year.

Institutional Investors Weigh In On Nkarta

Several large investors have recently modified their holdings of the business. RA Capital Management L.P. increased its holdings in shares of Nkarta by 38.4% in the first quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock worth $116,803,000 after acquiring an additional 3,000,000 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of Nkarta in the first quarter worth about $9,072,000. SR One Capital Management LP increased its holdings in shares of Nkarta by 150.0% in the first quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock worth $36,033,000 after acquiring an additional 2,000,000 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Nkarta by 26.0% in the first quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock worth $21,255,000 after acquiring an additional 405,753 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new stake in shares of Nkarta in the first quarter worth about $147,000. 80.54% of the stock is currently owned by institutional investors.

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.