Nkarta, Inc. (NASDAQ:NKTX – Get Free Report) fell 2.8% during trading on Monday. The company traded as low as $1.75 and last traded at $1.75. 1,436,657 shares changed hands during mid-day trading, an increase of 96% from the average daily volume of 734,699 shares. The stock had previously closed at $1.80.
Wall Street Analyst Weigh In
NKTX has been the subject of several analyst reports. HC Wainwright lowered their target price on Nkarta to $14.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. TD Cowen initiated coverage on Nkarta in a research report on Tuesday, June 23rd. They issued a “buy” rating on the stock. Wall Street Zen downgraded shares of Nkarta from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Stifel Nicolaus lowered their price target on shares of Nkarta from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a report on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.20.
Check Out Our Latest Stock Analysis on Nkarta
Nkarta Stock Down 2.8%
The stock has a 50 day moving average of $2.58 and a 200 day moving average of $2.69. The firm has a market capitalization of $125.33 million, a price-to-earnings ratio of -1.11 and a beta of 0.93.
Nkarta (NASDAQ:NKTX – Get Free Report) last issued its earnings results 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). Analysts predict that Nkarta, Inc. will post -1.60 earnings per share for the current year.
Institutional Investors Weigh In On Nkarta
Hedge funds and other institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd purchased a new stake in shares of Nkarta in the 2nd quarter valued at approximately $45,000. Spark Investment Management LLC bought a new stake in Nkarta during the second quarter valued at about $33,000. Susquehanna Fundamental Investments LLC bought a new position in Nkarta in the 2nd quarter worth approximately $30,000. Hsbc Holdings PLC grew its position in Nkarta by 448.4% in the 2nd quarter. Hsbc Holdings PLC now owns 65,994 shares of the company’s stock worth $183,000 after purchasing an additional 53,960 shares during the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Nkarta during the second quarter valued at approximately $197,000. 80.54% of the stock is currently owned by institutional investors.
About Nkarta
Nkarta, Inc (NASDAQ:NKTX) is a clinical-stage biotechnology company developing engineered natural killer (NK) cell therapies for cancer and autoimmune diseases. The company’s approach is designed to harness the innate immune activity of NK cells while using chimeric antigen receptors (CARs) to direct them toward specific disease-associated targets.
Nkarta’s development platform includes allogeneic, or donor-derived, CAR NK cell therapies intended to be manufactured for use across multiple patients.
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