Nkarta price target lowered to $14 from $15 at Stifel

Stifel lowered the firm’s price target on Nkarta (NKTX) to $14 from $15 and keeps a Buy rating on the shares. The disclosure of preliminary proof of concept data from Phase 1 trials evaluating NKX019 due in the second half of the year represents the next meaningful catalyst for shares, the analyst tells investors. The firm’s updated model includes extended NKX019 approval and launch timelines, now seen in FY30, the analyst noted.