Needham & Company LLC Lowers Nkarta (NASDAQ:NKTX) Price Target to $11.00

Nkarta (NASDAQ:NKTX) had its target price cut by stock analysts at Needham & Company LLC from $13.00 to $11.00 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 227.38% from the stock’s current price.

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

Nkarta Price Performance

NASDAQ NKTX opened at $3.36 on Friday. The company has a 50 day simple moving average of $4.48 and a 200-day simple moving average of $5.61. Nkarta has a 52-week low of $1.90 and a 52-week high of $16.24. The firm has a market capitalization of $237.08 million, a price-to-earnings ratio of -1.63 and a beta of 0.86.

Nkarta (NASDAQ:NKTX) last released its earnings results on Tuesday, August 13th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.15. On average, analysts predict that Nkarta will post -1.92 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. lifted its holdings in shares of Nkarta by 38.4% during the first quarter. RA Capital Management L.P. now owns 10,805,129 shares of the company’s stock worth $116,803,000 after buying an additional 3,000,000 shares during the last quarter. SR One Capital Management LP raised its stake in Nkarta by 150.0% during the 1st quarter. SR One Capital Management LP now owns 3,333,333 shares of the company’s stock valued at $36,033,000 after purchasing an additional 2,000,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Nkarta by 26.0% in 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. Renaissance Technologies LLC grew its position in Nkarta by 12.0% in the 2nd quarter. Renaissance Technologies LLC now owns 912,872 shares of the company’s stock worth $5,395,000 after purchasing an additional 98,000 shares during the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of Nkarta during the 1st quarter worth about $9,072,000. 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.