Nkarta price target lowered to $11 from $15 at Stifel

Stifel lowered the firm’s price target on Nkarta to $11 from $15 and keeps a Buy rating on the shares. Following last month’s disclosure, there was little surprise to the earnings announcement, the analyst tells investors. While the firm’s confidence in the utility of NKX019 in relapsed/refractory LBCL is diminished following the transition to a compressed dosing schedule, the firm believes the expansion of the program into lupus nephritis represents a logical progression.