Mizuho Lowers Nkarta (NASDAQ:NKTX) Price Target to $16.00

Nkarta (NASDAQ:NKTX) had its price objective cut by Mizuho from $20.00 to $16.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms have also recently commented on NKTX. Needham & Company LLC decreased their price target on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 8th. Raymond James raised shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, August 14th. Rodman & Renshaw initiated coverage on shares of Nkarta in a research note on Wednesday, October 9th. They issued a “buy” rating and a $14.00 target price for the company. HC Wainwright lowered their price target on Nkarta from $22.00 to $18.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, RODMAN&RENSHAW upgraded Nkarta to a “strong-buy” rating in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $15.00.

Nkarta Price Performance

NASDAQ:NKTX opened at $2.45 on Thursday. The business’s fifty day moving average price is $3.79 and its 200 day moving average price is $5.23. Nkarta has a 12 month low of $2.38 and a 12 month high of $16.24. The firm has a market capitalization of $172.90 million, a PE ratio of -1.30 and a beta of 0.86.

Hedge Funds Weigh In On Nkarta

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its position in shares of Nkarta by 161.4% during the third quarter. Barclays PLC now owns 232,566 shares of the company’s stock worth $1,051,000 after acquiring an additional 143,608 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Nkarta by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,171,026 shares of the company’s stock valued at $5,294,000 after purchasing an additional 33,927 shares during the period. XTX Topco Ltd bought a new stake in Nkarta during the 3rd quarter valued at $223,000. Wellington Management Group LLP raised its position in shares of Nkarta by 24.8% during the 3rd quarter. Wellington Management Group LLP now owns 216,341 shares of the company’s stock worth $978,000 after buying an additional 43,035 shares in the last quarter. Finally, State Street Corp raised its holdings in Nkarta by 1.4% during the third quarter. State Street Corp now owns 1,098,062 shares of the company’s stock worth $4,963,000 after purchasing an additional 15,569 shares in the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

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.