Needham & Company LLC Reiterates Buy Rating for Nkarta (NASDAQ:NKTX)

Nkarta (NASDAQ:NKTX)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research report issued on Friday, Benzinga reports. They presently have a $13.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 119.97% from the stock’s previous close.

Several other research firms have also recently commented on NKTX. Canaccord Genuity Group lowered their price target on shares of Nkarta from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, May 10th. HC Wainwright reiterated a “buy” rating and set a $23.00 price target on shares of Nkarta in a report on Thursday. Raymond James reiterated an “outperform” rating and set a $16.00 price target (up previously from $13.00) on shares of Nkarta in a report on Friday, March 22nd. Finally, Mizuho lowered their price target on shares of Nkarta from $31.00 to $25.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Nkarta has an average rating of “Buy” and a consensus target price of $17.83.

Nkarta Stock Performance

Shares of NKTX stock opened at $5.91 on Friday. The stock has a market capitalization of $292.07 million, a P/E ratio of -2.51 and a beta of 0.87. The company has a 50 day moving average price of $6.52 and a 200 day moving average price of $8.29. Nkarta has a fifty-two week low of $1.28 and a fifty-two week high of $16.24.

Nkarta (NASDAQ:NKTX) last announced 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). On average, research analysts forecast that Nkarta will post -2.27 EPS for the current fiscal year.

Institutional Trading of Nkarta

Several institutional investors have recently modified their holdings of NKTX. RA Capital Management L.P. lifted its position in shares of Nkarta by 38.4% during the 1st quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock worth $116,803,000 after buying an additional 3,000,000 shares during the last quarter. Commodore Capital LP purchased a new stake in Nkarta in the 4th quarter valued at $18,018,000. SR One Capital Management LP raised its position in Nkarta by 150.0% in the 1st quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock valued at $36,033,000 after purchasing an additional 2,000,000 shares during the last quarter. Boxer Capital LLC purchased a new stake in Nkarta in the 4th quarter valued at $9,504,000. Finally, Janus Henderson Group PLC purchased a new stake in Nkarta in the 1st quarter valued at $9,072,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

About Nkarta

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.