Needham Thinks Nkarta’s Stock is Going to Recover

Needham analyst Gil Blum initiated coverage with a Buy rating on Nkarta (NKTXResearch Report) today and set a price target of $26.00. The company’s shares closed last Wednesday at $12.84, close to its 52-week low of $7.55.

According to, Blum has 0 stars on 0-5 stars ranking scale with an average return of -12.9% and a 35.6% success rate. Blum covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Aeglea Biotherapeutics, and Rocket Pharmaceuticals.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nkarta with a $41.83 average price target, representing a 220.3% upside. In a report issued on July 18, SVB Securities also initiated coverage with a Buy rating on the stock with a $30.00 price target.

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The company has a one-year high of $40.64 and a one-year low of $7.55. Currently, Nkarta has an average volume of 994.6K.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NKTX in relation to earlier this year.

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Nkarta Inc is a bio-pharmaceutical company focused on the discovery, development and commercialization of engineered, allogeneic, and off-the-shelf cell therapies to treat cancer.

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