Nkarta, Inc. (NASDAQ:NKTX) Given Average Rating of “Buy” by Brokerages

Nkarta, Inc. (NASDAQ:NKTX) has received a consensus recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating and two have issued a strong buy rating 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.

NKTX has been the topic of several research reports. HC Wainwright dropped their target price on Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, November 11th. Mizuho cut 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. Needham & Company LLC decreased their price objective on shares of Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 8th. RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Rodman & Renshaw assumed coverage on Nkarta in a research report on Wednesday, October 9th. They issued a “buy” rating and a $14.00 price target on the stock.

Nkarta Stock Up 11.2 %

NKTX opened at $2.49 on Friday. The stock has a fifty day moving average of $2.55 and a 200-day moving average of $4.22. The firm has a market capitalization of $175.72 million, a P/E ratio of -1.32 and a beta of 0.85. Nkarta has a 12-month low of $2.08 and a 12-month high of $16.24.

Institutional Trading of Nkarta

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Nkarta by 110.9% in the 3rd quarter. GAMMA Investing LLC now owns 9,972 shares of the company’s stock valued at $45,000 after purchasing an additional 5,243 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of Nkarta in the third quarter valued at approximately $33,000. The Manufacturers Life Insurance Company lifted its holdings in Nkarta by 92.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,710 shares of the company’s stock valued at $122,000 after purchasing an additional 9,975 shares during the last quarter. Forefront Analytics LLC acquired a new stake in shares of Nkarta during the 2nd quarter worth about $70,000. Finally, State Street Corp boosted its holdings in shares of 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 acquiring an additional 15,569 shares during the period. 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.