Stifel Nicolaus Has Lowered Expectations for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its target price reduced by stock analysts at Stifel Nicolaus from $12.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 451.38% from the company’s previous close.

A number of other brokerages have also issued reports on NKTX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a report on Friday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Nkarta in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Nkarta from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.25.

Nkarta Stock Up 1.8%

NASDAQ:NKTX traded up $0.04 on Tuesday, reaching $2.00. 166,818 shares of the company’s stock traded hands, compared to its average volume of 932,107. The stock has a 50-day simple moving average of $2.14 and a 200-day simple moving average of $2.01. Nkarta has a 12 month low of $1.31 and a 12 month high of $3.40. The firm has a market cap of $141.70 million, a PE ratio of -1.35 and a beta of 0.86.

Nkarta (NASDAQ:NKTX) last released its earnings results on Monday, November 10th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.32) by $0.03. On average, equities analysts anticipate that Nkarta will post -1.7 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NKTX. Peapod Lane Capital LLC increased its stake in Nkarta by 1.1% during the third quarter. Peapod Lane Capital LLC now owns 671,266 shares of the company’s stock worth $1,390,000 after acquiring an additional 7,416 shares during the last quarter. Monaco Asset Management SAM boosted its holdings in shares of Nkarta by 24.5% in the 3rd quarter. Monaco Asset Management SAM now owns 1,970,910 shares of the company’s stock worth $4,080,000 after purchasing an additional 387,538 shares during the period. Bailard Inc. bought a new position in shares of Nkarta during the 3rd quarter valued at approximately $61,000. SG Americas Securities LLC raised its holdings in Nkarta by 35.0% during the 3rd quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock valued at $49,000 after buying an additional 6,141 shares during the period. Finally, Forefront Wealth Partners LLC bought a new stake in Nkarta in the third quarter worth $82,000. Institutional investors own 80.54% of the company’s stock.

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.