Nkarta (NASDAQ:NKTX) Rating Reiterated by HC Wainwright

Nkarta (NASDAQ:NKTX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a report issued on Thursday, Benzinga reports. They presently have a $23.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 304.93% from the company’s current price.

NKTX has been the subject of several other research reports. Mizuho cut their price objective on Nkarta from $31.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Raymond James reaffirmed an “outperform” rating and issued a $16.00 target price (up from $13.00) on shares of Nkarta in a report on Friday, March 22nd. Canaccord Genuity Group decreased their price target on Nkarta from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Needham & Company LLC decreased their target price on Nkarta from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.83.

Nkarta Stock Down 4.9 %

NKTX traded down $0.29 on Thursday, reaching $5.68. The company’s stock had a trading volume of 434,989 shares, compared to its average volume of 1,472,277. Nkarta has a fifty-two week low of $1.28 and a fifty-two week high of $16.24. The stock has a 50 day moving average of $6.58 and a two-hundred day moving average of $8.24. The company has a market capitalization of $280.71 million, a price-to-earnings ratio of -2.44 and a beta of 0.87.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.02). As a group, analysts anticipate that Nkarta will post -2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nkarta

A number of institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. boosted its stake 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 valued at $116,803,000 after acquiring an additional 3,000,000 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Nkarta in the first quarter valued at approximately $9,072,000. SR One Capital Management LP lifted its stake in shares of Nkarta by 150.0% during the first quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock valued at $36,033,000 after buying an additional 2,000,000 shares during the period. Vanguard Group Inc. lifted its stake in shares of Nkarta by 26.0% during the first quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock valued at $21,255,000 after buying an additional 405,753 shares during the period. Finally, State Board of Administration of Florida Retirement System acquired a new stake in Nkarta during the first quarter worth approximately $147,000. 80.54% of the stock is owned by institutional investors and hedge funds.

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.