Nkarta (NASDAQ:NKTX) Receives Buy Rating from Needham & Company LLC

Nkarta (NASDAQ:NKTX)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $11.00 price target on the stock. Needham & Company LLC’s price target points to a potential upside of 235.37% from the company’s current price.

NKTX has been the subject of a number of other research reports. Mizuho lowered their price objective on Nkarta from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Wall Street Zen lowered Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research note on Friday, March 27th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.33.

Nkarta Stock Performance

NKTX stock opened at $3.28 on Wednesday. Nkarta has a 1 year low of $1.63 and a 1 year high of $3.65. The firm has a market cap of $233.83 million, a P/E ratio of -2.34 and a beta of 0.88. The stock has a 50-day simple moving average of $2.57 and a 200-day simple moving average of $2.22.

Nkarta (NASDAQ:NKTX) last posted its earnings results on Tuesday, May 12th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02. On average, equities research analysts predict that Nkarta will post -1.51 EPS for the current year.

Institutional Investors Weigh In On Nkarta

A number of hedge funds have recently bought and sold shares of NKTX. Abel Hall LLC acquired a new position in shares of Nkarta in the 4th quarter worth approximately $27,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nkarta in the 4th quarter worth approximately $37,000. SG Americas Securities LLC grew its position in shares of Nkarta by 35.0% in the 3rd quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock worth $49,000 after acquiring an additional 6,141 shares in the last quarter. Bailard Inc. acquired a new position in shares of Nkarta in the 3rd quarter worth approximately $61,000. Finally, Forefront Analytics LLC grew its position in shares of Nkarta by 41.0% in the 3rd quarter. Forefront Analytics LLC now owns 39,452 shares of the company’s stock worth $82,000 after acquiring an additional 11,473 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Company Profile

Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.

Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.