Mizuho Cuts Nkarta (NASDAQ:NKTX) Price Target to $12.00
by Sarita Garza · The Markets DailyNkarta (NASDAQ:NKTX – Free Report) had its target price reduced by Mizuho from $14.00 to $12.00 in a research report report published on Tuesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.
NKTX has been the subject of a number of other reports. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a report on Friday, March 27th. Wall Street Zen lowered shares of Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Needham & Company LLC increased their price target on shares of Nkarta from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, March 26th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $11.33.
Read Our Latest Analysis on NKTX
Nkarta Stock Up 5.9%
Shares of NASDAQ NKTX opened at $2.32 on Tuesday. The business’s 50 day moving average is $2.28 and its two-hundred day moving average is $2.10. Nkarta has a 52-week low of $1.42 and a 52-week high of $2.81. The firm has a market cap of $172.35 million, a price-to-earnings ratio of -1.66 and a beta of 0.66.
Nkarta (NASDAQ:NKTX – Get Free Report) last released its quarterly earnings results on Wednesday, March 25th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.05). Analysts anticipate that Nkarta will post -1.7 EPS for the current fiscal year.
Insider Activity
In other news, CEO Paul J. Hastings sold 26,046 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $2.07, for a total value of $53,915.22. Following the sale, the chief executive officer directly owned 390,023 shares in the company, valued at approximately $807,347.61. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.40% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. Monaco Asset Management SAM increased its holdings in Nkarta by 24.5% during the 3rd quarter. Monaco Asset Management SAM now owns 1,970,910 shares of the company’s stock worth $4,080,000 after purchasing an additional 387,538 shares during the period. Prelude Capital Management LLC acquired a new stake in Nkarta in the 3rd quarter valued at about $90,000. Wells Fargo & Company MN boosted its stake in shares of Nkarta by 45.8% in the 4th quarter. Wells Fargo & Company MN now owns 47,997 shares of the company’s stock valued at $89,000 after buying an additional 15,079 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nkarta during the fourth quarter worth about $37,000. Finally, Abel Hall LLC acquired a new position in shares of Nkarta during the fourth quarter worth about $27,000. 80.54% of the stock is owned by institutional investors and hedge funds.
About Nkarta
Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.
Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.