Nkarta, Inc. (NASDAQ:NKTX) Receives $15.00 Consensus PT from Analysts

Nkarta, Inc. (NASDAQ:NKTX) has been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat Ratings 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 1-year price objective among analysts that have issued a report on the stock in the last year is $15.00.

NKTX has been the subject of several recent analyst reports. RODMAN&RENSHAW upgraded Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. Needham & Company LLC dropped their target price 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. Mizuho reduced their price target on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Thursday, November 21st. Rodman & Renshaw initiated coverage on shares of Nkarta in a research note on Wednesday, October 9th. They set a “buy” rating and a $14.00 price objective on the stock. Finally, Raymond James upgraded shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Wednesday, August 14th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in Nkarta in the second quarter valued at approximately $26,000. GAMMA Investing LLC boosted its position in shares of Nkarta by 1,887.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after purchasing an additional 4,491 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Nkarta in the 3rd quarter worth $33,000. The Manufacturers Life Insurance Company grew its stake in shares of 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 purchasing an additional 9,975 shares during the period. Finally, Forefront Analytics LLC acquired a new stake in shares of Nkarta in the 2nd quarter valued at approximately $70,000. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Trading Down 4.0 %

Shares of NKTX opened at $2.87 on Thursday. The stock has a market cap of $202.54 million, a PE ratio of -1.53 and a beta of 0.86. Nkarta has a 1 year low of $2.38 and a 1 year high of $16.24. The stock has a 50 day simple moving average of $3.54 and a 200-day simple moving average of $5.11.

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.