Stifel Nicolaus Issues Pessimistic Forecast for Nkarta (NASDAQ:NKTX) Stock Price

Nkarta (NASDAQ:NKTX) had its price target reduced by stock analysts at Stifel Nicolaus from $12.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 461.22% from the company’s previous close.

A number of other research firms also recently weighed in on NKTX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a report on Friday, October 31st. Wall Street Zen raised Nkarta from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Nkarta in a research report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.25.

Nkarta Stock Down 2.5%

Shares of NKTX opened at $1.96 on Tuesday. The stock has a market capitalization of $139.22 million, a P/E ratio of -1.42 and a beta of 0.86. Nkarta has a twelve month low of $1.31 and a twelve month high of $3.18. The firm has a fifty day simple moving average of $2.13 and a two-hundred day simple moving average of $2.01.

Nkarta (NASDAQ:NKTX) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.03. Sell-side analysts expect that Nkarta will post -1.7 EPS for the current fiscal year.

Hedge Funds Weigh In On Nkarta

A number of hedge funds have recently modified their holdings of the company. Savant Capital LLC purchased a new stake in shares of Nkarta in the second quarter worth $36,000. SG Americas Securities LLC boosted its holdings in Nkarta by 35.0% in the 3rd quarter. SG Americas Securities LLC now owns 23,663 shares of the company’s stock worth $49,000 after buying an additional 6,141 shares during the period. CWM LLC increased its stake in Nkarta by 3,437.3% in the 1st quarter. CWM LLC now owns 28,157 shares of the company’s stock worth $52,000 after buying an additional 27,361 shares in the last quarter. Cerity Partners LLC bought a new stake in Nkarta during the first quarter valued at about $55,000. Finally, Bailard Inc. purchased a new position in shares of Nkarta in the third quarter valued at about $61,000. 80.54% of the stock is currently owned by institutional investors.

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.