Raymond James downgraded Nkarta to Outperform from Strong Buy with a price target of $16, up from $13. The company last knight disclosed Q4 financial results and announced deprioritization of NKX101 to focus resources on advancement of NKX019 in autoimmune indications, the analyst tells investors in a research note. The firm says the downgrade is not due to any decrease in confidence in it views of Nkarta, rating to better reflect remaining upside given the recent strength.
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