Nkarta price target lowered to $26 from $36 at Oppenheimer

Oppenheimer analyst Matthew Biegler lowered the firm’s price target on Nkarta to $26 from $36 and keeps an Outperform rating on the shares after the company held an investor event to unveil updates from NKX019 in nonHodgkin’s lymphoma. The analyst thought "the data looked fine but were very incremental." The bigger problem right now, in his view, is how NKX019 differentiates itself from all the other CD19 therapies out there. The fact that there were only two new aggressive lymphoma patients since April suggests an increasingly competitive market, Biegler adds. If anything, he thinks the emerging safety profile portends favorably to AML, where he sees the biggest opportunity for NK cell therapy to shine.