Nkarta, Inc. (NASDAQ:NKTX) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Nkarta, Inc. (NASDAQ:NKTX – Get Rating) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $28.57.

A number of research firms recently issued reports on NKTX. Cantor Fitzgerald restated an “overweight” rating on shares of Nkarta in a research report on Wednesday, September 21st. Mizuho reduced their price objective on Nkarta from $81.00 to $26.00 and set a “buy” rating for the company in a research report on Wednesday, November 16th. Canaccord Genuity Group began coverage on Nkarta in a research report on Monday, October 10th. They set a “buy” rating and a $25.00 price objective for the company. Canaccord Genuity Group assumed coverage on Nkarta in a research report on Monday, October 10th. They set a “buy” rating and a $25.00 price objective for the company. Finally, Oppenheimer lowered Nkarta from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 22nd.

Nkarta Trading Down 0.2 %

Shares of NASDAQ NKTX opened at $5.57 on Tuesday. Nkarta has a twelve month low of $5.06 and a twelve month high of $20.35. The company has a market capitalization of $271.89 million, a price-to-earnings ratio of -2.09 and a beta of 0.17. The business has a 50 day simple moving average of $7.53 and a 200-day simple moving average of $11.66.

Nkarta (NASDAQ:NKTX – Get Rating) last released its quarterly earnings data on Wednesday, November 9th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.04. As a group, equities analysts predict that Nkarta will post -2.63 earnings per share for the current year.

Institutional Trading of Nkarta

Several institutional investors have recently modified their holdings of NKTX. Price T Rowe Associates Inc. MD lifted its holdings in shares of Nkarta by 64.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,879,662 shares of the company’s stock valued at $47,797,000 after buying an additional 1,520,473 shares during the period. SR One Capital Management LP acquired a new stake in shares of Nkarta in the second quarter valued at $16,427,000. State Street Corp lifted its holdings in shares of Nkarta by 392.0% in the second quarter. State Street Corp now owns 1,359,615 shares of the company’s stock valued at $16,750,000 after buying an additional 1,083,297 shares during the period. FMR LLC lifted its holdings in shares of Nkarta by 523,829.2% in the second quarter. FMR LLC now owns 880,201 shares of the company’s stock valued at $10,844,000 after buying an additional 880,033 shares during the period. Finally, Laurion Capital Management LP acquired a new stake in shares of Nkarta in the second quarter valued at $10,669,000. Institutional investors and hedge funds own 87.22% of the company’s stock.

Nkarta Company Profile

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Nkarta, Inc, a a clinical-stage biopharmaceutical company, develops and commercializes cell therapies for cancer treatment. The company's approach for cellular immunotherapy involves chimeric antigen receptors on the surface of a natural killer (NK) cell that enable the cell to recognize specific proteins or antigens that are present on the surface of tumor cells.