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

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

Several equities analysts recently issued reports on the company. HC Wainwright lowered their price objective on Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Rodman & Renshaw started coverage on Nkarta in a report on Wednesday, October 9th. They set a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC reduced their price target on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Mizuho lowered their price objective 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. Finally, RODMAN&RENSHAW upgraded shares of Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th.

Nkarta Price Performance

Shares of Nkarta stock opened at $2.35 on Monday. Nkarta has a 1 year low of $2.08 and a 1 year high of $16.24. The firm’s 50-day moving average is $2.91 and its 200 day moving average is $4.59. The stock has a market cap of $165.84 million, a price-to-earnings ratio of -1.25 and a beta of 0.82.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC purchased a new position in shares of Nkarta during the 2nd quarter valued at $938,000. Federated Hermes Inc. boosted its stake in shares of Nkarta by 28,478.7% in the second quarter. Federated Hermes Inc. now owns 135,749 shares of the company’s stock worth $802,000 after acquiring an additional 135,274 shares during the period. Wasatch Advisors LP lifted its holdings in Nkarta by 31.7% in the 3rd quarter. Wasatch Advisors LP now owns 1,834,680 shares of the company’s stock worth $8,293,000 after purchasing an additional 442,125 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Nkarta in the 2nd quarter worth approximately $1,489,000. Finally, FMR LLC grew its holdings in Nkarta by 97.1% during the 3rd quarter. FMR LLC now owns 133,149 shares of the company’s stock valued at $602,000 after buying an additional 65,600 shares in the last quarter. 80.54% of the stock is currently owned by 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.