Stifel Nicolaus Has Lowered Expectations for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its price objective cut by analysts at Stifel Nicolaus from $11.00 to $10.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 334.78% from the company’s previous close.

Several other brokerages have also commented on NKTX. Evercore set a $9.00 target price on Nkarta in a research report on Monday, May 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a report on Wednesday, May 13th. HC Wainwright lowered their target price on shares of Nkarta to $14.00 and set a “buy” rating for the company in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded shares of Nkarta from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Nkarta has a consensus rating of “Moderate Buy” and an average target price of $11.20.

Nkarta Stock Down 3.8%

NASDAQ NKTX opened at $2.30 on Friday. Nkarta has a fifty-two week low of $1.70 and a fifty-two week high of $3.72. The business has a 50 day moving average price of $2.64 and a two-hundred day moving average price of $2.58. The stock has a market cap of $164.73 million, a PE ratio of -1.46 and a beta of 0.93.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.18). Sell-side analysts anticipate that Nkarta will post -1.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Peapod Lane Capital LLC grew its stake in shares of Nkarta by 0.7% in the fourth 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 in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Nkarta by 4.0% during the second quarter. BNP Paribas Financial Markets now owns 231,081 shares of the company’s stock valued at $384,000 after purchasing an additional 8,968 shares in the last quarter. Abel Hall LLC lifted its holdings in Nkarta by 65.4% in the first quarter. Abel Hall LLC now owns 24,113 shares of the company’s stock worth $51,000 after purchasing an additional 9,535 shares during the period. Geode Capital Management LLC lifted its holdings in Nkarta by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock worth $2,006,000 after purchasing an additional 10,065 shares during the period. Finally, Samalin Investment Counsel LLC grew its position in Nkarta by 7.2% in the 4th quarter. Samalin Investment Counsel LLC now owns 150,235 shares of the company’s stock valued at $278,000 after buying an additional 10,070 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

Nkarta Company Profile

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.