Nkarta price target lowered to $12 from $14 at Stifel

Stifel analyst Stephen Willey lowered the firm’s price target on Nkarta (NKTX) to $12 from $14 and keeps a Buy rating on the shares. The recent earnings announcement and corporate update did not provide “any incremental surprises” as management is still guiding to the disclosure of preliminary data from the Ntrust-1/2 trials evaluating NKX019 in autoimmune disease before year-end, the analyst tells investors. The firm’s reduced price target mostly reflects revised longer-term financing assumptions and valuation, the analyst noted.