Nkarta (NKTX) Reiterated at Buy by Stifel Amid Ongoing Ntrust Trials

Stifel analyst Stephen Willey reiterated a Buy rating and $10.00 price target on Nkarta Inc. (NASDAQ: NKTX).
The analyst commented, "In conjunction with Stifel’s Virtual I&I Forum, we moderated a discussion with CEO Paul Hastings and President Nadir Mahmood – a discussion which focused on 1) the recent protocol amendments favorably-impacting patient convenience and enrollment kinetics in the ongoing Ntrust-1/2 trials; 2) a framework for preliminary Ntrust-1/2 data to be presented at ACR Convergence (November 6-11) – with particular emphasis on efficacy/safety from “at least a handful” of myositis/scleroderma patients receiving the highest 4B cells/dose with 3+ months of follow-up – and subsequent registrational development efforts for NKX019; and 3) incremental translational efforts focused on enhancing NKX019’s efficacy profile without compromising safety. While acknowledging the complexities associated with the upcoming Ntrust-1/2 data disclosure (different doses/lymphodepletion/follow-up duration), we believe these data should prove capable of demonstrating proof-ofconcept and informing registrational development opportunities – while a morecomprehensive FY27 update (more patients and extended follow-up/durability) should better-characterize the competitiveness of NKX019 in AID. We remain Buy-rated."

For an analyst ratings summary and ratings history on Nkarta Inc. click here. For more ratings news on Nkarta Inc. click here.

Shares of Nkarta Inc. closed at $2.75 yesterday.

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