Nkarta (NASDAQ:NKTX) Rating Lowered to “Strong Sell” at Wall Street Zen

Nkarta (NASDAQ:NKTX) was downgraded by analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Several other research firms also recently weighed in on NKTX. TD Cowen started coverage on shares of Nkarta in a research report on Tuesday, June 23rd. They set a “buy” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price objective on shares of Nkarta in a research note on Wednesday, May 13th. Evercore set a $9.00 target price on Nkarta in a report on Monday, May 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. Finally, Mizuho lowered their price target on Nkarta from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.75.

Nkarta Stock Performance

Shares of NASDAQ NKTX opened at $2.27 on Friday. The firm has a market cap of $162.40 million, a PE ratio of -1.69 and a beta of 0.90. The firm has a fifty day moving average of $2.84 and a 200 day moving average of $2.57. Nkarta has a one year low of $1.70 and a one year high of $3.72.

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

Hedge Funds Weigh In On Nkarta

Institutional investors and hedge funds have recently bought and sold shares of the business. Monaco Asset Management SAM grew its stake in Nkarta by 29.2% during the 4th quarter. Monaco Asset Management SAM now owns 2,546,932 shares of the company’s stock valued at $4,712,000 after acquiring an additional 576,022 shares in the last quarter. Nano Cap New Millennium Growth Fund L P purchased a new position in Nkarta in the 4th quarter worth approximately $278,000. Bailard Inc. lifted its stake in Nkarta by 114.2% in the 4th quarter. Bailard Inc. now owns 63,400 shares of the company’s stock worth $117,000 after purchasing an additional 33,800 shares in the last quarter. Samalin Investment Counsel LLC boosted its holdings in shares of Nkarta by 7.2% during the 4th quarter. Samalin Investment Counsel LLC now owns 150,235 shares of the company’s stock worth $278,000 after purchasing an additional 10,070 shares during the last quarter. Finally, Peapod Lane Capital LLC boosted its holdings in shares of Nkarta by 0.7% during the 4th quarter. Peapod Lane Capital LLC now owns 676,199 shares of the company’s stock worth $1,251,000 after purchasing an additional 4,933 shares during the last quarter. 80.54% of the stock is currently 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.