Nkarta (NASDAQ:NKTX) Cut to Strong Sell at Wall Street Zen

Wall Street Zen downgraded shares of Nkarta (NASDAQ:NKTX) from a sell rating to a strong sell rating in a report released on Saturday morning.

Several other equities research analysts have also recently issued reports on NKTX. HC Wainwright reduced their price objective on shares of Nkarta to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Evercore set a $9.00 target price on shares of Nkarta in a research report on Monday, May 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Nkarta in a research note on Wednesday, May 13th. Stifel Nicolaus cut their target price on shares of Nkarta from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Friday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a report on Wednesday, June 24th. One 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.20.

Nkarta Trading Up 4.3%

NASDAQ:NKTX opened at $2.43 on Friday. Nkarta has a 12-month low of $1.70 and a 12-month high of $3.72. The stock has a 50-day moving average price of $2.64 and a 200 day moving average price of $2.58. The stock has a market capitalization of $174.04 million, a P/E ratio of -1.55 and a beta of 0.93.

Nkarta (NASDAQ:NKTX) last issued its earnings results on Monday, August 10th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.18). On average, research analysts predict that Nkarta will post -1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nkarta

Several institutional investors have recently added to or reduced their stakes in NKTX. Bank of America Corp DE purchased a new stake in shares of Nkarta during the 2nd quarter worth approximately $161,000. Man Group plc purchased a new position in shares of Nkarta in the second quarter valued at $283,000. AWM Investment Company Inc. purchased a new position in shares of Nkarta in the second quarter valued at $2,564,000. Hsbc Holdings PLC purchased a new position in shares of Nkarta in the second quarter valued at $183,000. Finally, Canada Pension Plan Investment Board bought a new stake in Nkarta in the second quarter worth $81,000. Hedge funds and other institutional investors own 80.54% of the company’s stock.

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.