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

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

Several analysts recently commented on NKTX shares. RODMAN&RENSHAW raised Nkarta to a “strong-buy” rating in a research note on Wednesday, October 9th. Rodman & Renshaw started coverage on Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC decreased their price objective on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 8th. HC Wainwright lowered their target price on Nkarta from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, November 11th. 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 research note on Thursday, November 21st.

Nkarta Trading Up 7.7 %

NASDAQ NKTX opened at $2.37 on Monday. Nkarta has a 12 month low of $2.08 and a 12 month high of $16.24. The stock has a 50-day simple moving average of $3.01 and a 200 day simple moving average of $4.68. The company has a market capitalization of $167.25 million, a PE ratio of -1.26 and a beta of 0.82.

Institutional Trading of Nkarta

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of Nkarta by 80.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 172,162 shares of the company’s stock valued at $1,017,000 after acquiring an additional 76,612 shares in the last quarter. Rhumbline Advisers grew its stake in Nkarta by 65.1% in the second quarter. Rhumbline Advisers now owns 84,011 shares of the company’s stock valued at $496,000 after purchasing an additional 33,117 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Nkarta by 11,164.3% during the 2nd quarter. Acadian Asset Management LLC now owns 303,461 shares of the company’s stock worth $1,792,000 after purchasing an additional 300,767 shares during the last quarter. American Century Companies Inc. increased its position in shares of Nkarta by 49.9% during the 2nd quarter. American Century Companies Inc. now owns 72,205 shares of the company’s stock worth $427,000 after purchasing an additional 24,033 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Nkarta during the 2nd quarter worth approximately $26,000. Institutional investors own 80.54% of the company’s stock.

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.