Mizuho Cuts Nkarta (NASDAQ:NKTX) Price Target to $16.00

Nkarta (NASDAQ:NKTX) had its target price lowered by Mizuho from $20.00 to $16.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently weighed in on the stock. RODMAN&RENSHAW raised shares of Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th. Raymond James upgraded Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price for the company in a research note on Wednesday, August 14th. Rodman & Renshaw initiated coverage on Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 price target on the stock. Needham & Company LLC decreased their price target on Nkarta from $13.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 8th. Finally, HC Wainwright dropped their price objective on shares of Nkarta from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Five research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $15.00.

Nkarta Stock Up 0.4 %

Shares of NKTX stock opened at $2.45 on Thursday. Nkarta has a fifty-two week low of $2.38 and a fifty-two week high of $16.24. The firm’s 50 day moving average price is $3.79 and its two-hundred day moving average price is $5.24. The stock has a market cap of $172.90 million, a price-to-earnings ratio of -1.30 and a beta of 0.86.

Institutional Investors Weigh In On Nkarta

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System bought a new stake in shares of Nkarta in the first quarter worth $147,000. Vanguard Group Inc. increased its position in shares of Nkarta by 26.0% in the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock worth $21,255,000 after purchasing an additional 405,753 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Nkarta in the 1st quarter valued at about $9,072,000. RA Capital Management L.P. lifted its position in shares of Nkarta by 38.4% during the first quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock worth $116,803,000 after purchasing an additional 3,000,000 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Nkarta by 1,887.0% in the second quarter. GAMMA Investing LLC now owns 4,729 shares of the company’s stock worth $28,000 after purchasing an additional 4,491 shares in the last quarter. 80.54% of the stock is currently owned by hedge funds and other 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.