Nkarta (NASDAQ:NKTX) Stock Price Down 5% – What’s Next?

Nkarta, Inc. (NASDAQ:NKTX)’s stock price traded down 5% on Tuesday . The company traded as low as $2.63 and last traded at $2.65. Approximately 794,481 shares changed hands during trading, an increase of 5% from the average session volume of 753,632 shares. The stock had previously closed at $2.79.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NKTX. Mizuho cut their target price on Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of Nkarta in a research report on Wednesday, May 13th. Wall Street Zen downgraded Nkarta from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Evercore set a $9.00 target price on Nkarta in a research note on Monday, May 18th. Finally, TD Cowen initiated coverage on Nkarta in a report on Tuesday, June 23rd. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Nkarta Trading Down 5.0%

The company has a market capitalization of $189.58 million, a price-to-earnings ratio of -1.98 and a beta of 0.90. The stock’s fifty day simple moving average is $2.93 and its 200-day simple moving average is $2.53.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.02. On average, analysts anticipate that Nkarta, Inc. will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NKTX. Abel Hall LLC acquired a new stake in Nkarta in the 4th quarter valued at about $27,000. The Manufacturers Life Insurance Company acquired a new position in shares of Nkarta during the first quarter worth about $30,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nkarta during the fourth quarter worth approximately $37,000. Forefront Analytics LLC increased its stake in shares of Nkarta by 41.0% during the third quarter. Forefront Analytics LLC now owns 39,452 shares of the company’s stock worth $82,000 after buying an additional 11,473 shares during the period. Finally, Sei Investments Co. raised its holdings in Nkarta by 74.9% in the first quarter. Sei Investments Co. now owns 40,046 shares of the company’s stock valued at $84,000 after acquiring an additional 17,148 shares in the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

About Nkarta

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.