Why Nkarta Stock Is Soaring Today
Shares of Nkarta (NASDAQ: NKTX) were soaring 11.1% as of 11:07 a.m. ET on Wednesday. The big gain came after Raymond James upgraded the stock from outperform to a strong buy and maintained its 12-month price target at $16.
This analyst upgrade came after Nkarta provided its second-quarter update on Tuesday. The clinical-stage biopharmaceutical company expects to begin patient enrollment by year-end in an Ntrust-2 clinical trial evaluating experimental natural killer (NK) cell therapy NKX019 in treating autoimmune diseases sclerosis, myositis, and vasculitis.
The company also said its cash stockpile of $426.7 million at the end of the second quarter should be enough to fund operations into late 2027.
Source Fool.com
