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

Shares of Nkarta, Inc. (NASDAQ:NKTX) have earned a consensus rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $15.00.

A number of research firms have commented on NKTX. Needham & Company LLC cut 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 cut their target price on shares of Nkarta from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. HC Wainwright lowered their price target 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 initiated coverage on Nkarta in a report on Wednesday, October 9th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, RODMAN&RENSHAW upgraded Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th.

Nkarta Trading Up 14.6 %

Shares of NASDAQ NKTX opened at $2.99 on Thursday. The business has a 50-day moving average of $3.63 and a 200-day moving average of $5.17. The firm has a market capitalization of $211.00 million, a price-to-earnings ratio of -1.59 and a beta of 0.86. Nkarta has a 12 month low of $2.38 and a 12 month high of $16.24.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NKTX. Vanguard Group Inc. boosted its holdings in Nkarta by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock valued at $21,255,000 after acquiring an additional 405,753 shares during the period. AQR Capital Management LLC bought a new position in shares of Nkarta in the second quarter worth approximately $938,000. Federated Hermes Inc. increased 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 buying an additional 135,274 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Nkarta during the 2nd quarter valued at $1,489,000. Finally, Affinity Asset Advisors LLC purchased a new stake in Nkarta during the 2nd quarter valued at $1,182,000. 80.54% of the stock is owned by institutional investors.

Nkarta Company Profile

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.