Nkarta (NASDAQ:NKTX) Stock Falls 3.5% – Time to Sell?

by · The Markets Daily

Nkarta, Inc. (NASDAQ:NKTX – Get Free Report) shares dropped 3.5% on Friday. The company traded as low as $2.73 and last traded at $2.75. Approximately 681,083 shares were traded during mid-day trading, an increase of 13% from the average session volume of 600,515 shares. The stock had previously closed at $2.85.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKTX. HC Wainwright dropped their price objective on Nkarta to $14.00 and set a “buy” rating on the stock in a report on Tuesday, August 11th. Wall Street Zen downgraded Nkarta from a “sell” rating to a “strong sell” rating in a report on Saturday, August 15th. Stifel Nicolaus decreased their target price on Nkarta from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 14th. TD Cowen began coverage on Nkarta in a research note on Tuesday, June 23rd. They set a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $11.20.

Read Our Latest Analysis on Nkarta

Nkarta Trading Down 3.5%

The stock has a market cap of $196.96 million, a price-to-earnings ratio of -1.75 and a beta of 0.97. The stock’s 50 day moving average is $2.58 and its two-hundred day moving average is $2.68.

Nkarta (NASDAQ:NKTX – Get Free Report) last announced its earnings results on Monday, August 10th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.18). On average, sell-side analysts predict that Nkarta, Inc. will post -1.6 EPS for the current year.

Institutional Trading of Nkarta

A number of hedge funds have recently added to or reduced their stakes in NKTX. The Manufacturers Life Insurance Company purchased a new stake in shares of Nkarta during the first quarter worth approximately $30,000. Susquehanna Fundamental Investments LLC purchased a new position in Nkarta in the 2nd quarter valued at $30,000. Pallas Capital Advisors LLC acquired a new position in Nkarta in the 2nd quarter valued at $31,000. Spark Investment Management LLC acquired a new position in Nkarta in the 2nd quarter valued at $33,000. Finally, WINTON GROUP Ltd purchased a new position in Nkarta during the 2nd quarter worth $45,000. 80.54% of the stock is owned by institutional investors and hedge funds.

Nkarta Company Profile

(Get Free Report)

Nkarta, Inc is a clinical-stage biotechnology company developing engineered natural killer (NK) cell therapies for the treatment of cancer. The company’s approach is designed to use allogeneic, or donor-derived, immune cells that can be manufactured for use across multiple patients, with the goal of providing an off-the-shelf alternative to individualized cell therapies.

Nkarta’s product candidates include NKX101, an engineered CAR NK cell therapy designed to recognize NKG2D ligands expressed on certain cancer cells, and NKX019, a CD19-targeted CAR NK cell therapy being developed for B-cell malignancies.

See Also