Needham & Company LLC Issues Pessimistic Forecast for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its target price trimmed by Needham & Company LLC from $13.00 to $11.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. Rodman & Renshaw assumed coverage on shares of Nkarta in a research report on Wednesday, October 9th. They set a “buy” rating and a $14.00 target price for the company. HC Wainwright lowered their price objective on shares of Nkarta from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. RODMAN&RENSHAW upgraded shares of Nkarta to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Raymond James raised shares of Nkarta from an “outperform” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $17.17.

Nkarta Stock Down 2.4 %

Shares of NASDAQ NKTX traded down $0.08 during midday trading on Friday, hitting $3.19. The stock had a trading volume of 3,299,964 shares, compared to its average volume of 799,036. The business’s 50 day moving average is $4.39 and its 200-day moving average is $5.56. Nkarta has a 52 week low of $1.90 and a 52 week high of $16.24. The company has a market cap of $225.09 million, a P/E ratio of -1.59 and a beta of 0.86.

Nkarta (NASDAQ:NKTX) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.15. As a group, analysts expect that Nkarta will post -1.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC purchased a new position in Nkarta during the 1st quarter valued at about $788,000. Vanguard Group Inc. increased its position in Nkarta by 26.0% during the 1st quarter. Vanguard Group Inc. now owns 1,966,271 shares of the company’s stock valued at $21,255,000 after purchasing an additional 405,753 shares during the period. AQR Capital Management LLC purchased a new position in Nkarta during the 2nd quarter valued at about $938,000. Federated Hermes Inc. increased its position in Nkarta by 28,478.7% during the 2nd quarter. Federated Hermes Inc. now owns 135,749 shares of the company’s stock valued at $802,000 after purchasing an additional 135,274 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in Nkarta during the 2nd quarter valued at about $1,489,000. 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.