Nkarta, Inc. (NASDAQ:NKTX) Receives Consensus Rating of "Buy" from Analysts

Nkarta, Inc. (NASDAQ:NKTX) has garnered a consensus rating of "Buy" from multiple analysts covering the stock, according to a report from Marketbeat. Currently, eight different rating firms are tracking Nkarta, with six of them issuing a buy rating and two providing a strong buy rating. The average price target from these analysts stands at $14.86 for the upcoming year.

Recent reports from research analysts have also addressed Nkarta's stock performance. For instance, Stifel Nicolaus adjusted its price target from $15.00 to $14.00, maintaining a "buy" rating for Nkarta. Similarly, HC Wainwright confirmed its "buy" rating and set a target price of $18.00. Additionally, Needham & Company LLC reiterated a "buy" rating but lowered their target price to $11.00.

Nkarta Price Performance

As of Thursday, shares of NKTX opened at $1.84. The stock has experienced fluctuations over the past year, with a low of $1.31 and a high of $11.84. The market capitalization of Nkarta currently stands at $130.56 million, with a price-to-earnings (P/E) ratio of -0.98 and a beta of 0.90. The fifty-day moving average for the stock is $1.98, while the two-hundred-day moving average is at $2.79.

Nkara last released its earnings results on March 26. The company reported an earnings per share (EPS) of ($0.35), which exceeded the consensus estimate of ($0.41) by $0.06. Analysts predict that Nkarta will report an EPS of -1.7 for the current fiscal year.

Insider Transactions

In insider news, CEO Paul J. Hastings sold 17,378 shares of Nkarta stock on January 15 at an average price of $2.20, totaling $38,231.60. Following this sale, Hastings holds 319,859 shares, valued at approximately $703,689.80, representing a decline of 5.15% in ownership. This transaction has been documented in a filing with the SEC. Currently, corporate insiders own about 8.70% of the company's shares.

Institutions Investing in Nkarta

Several institutional investors have made adjustments to their positions in Nkarta stock recently. Invesco Ltd. purchased a new stake in the company in the fourth quarter, valued at around $30,000. Another firm, Sequoia Financial Advisors LLC, also acquired a new position worth $31,000. Erste Asset Management GmbH made another new acquisition valued at approximately $33,000, while China Universal Asset Management purchased shares worth about $37,000. Lastly, ProShare Advisors LLC added a stake valued at approximately $45,000. Overall, institutional investors and hedge funds hold about 80.54% of Nkarta's stock.

About Nkarta

Nkarta, Inc. is a biopharmaceutical company in the clinical stage that focuses on developing and commercializing natural killer cell therapies to combat cancer and autoimmune diseases. Its primary product candidate, NKX019, is a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen. This candidate is currently in Phase 1 clinical trials aimed at treating relapsed/refractory non-Hodgkin lymphoma and lupus nephritis.

Nkarta, Analysts, Stocks