Nkarta (NASDAQ:NKTX – Get Free Report) released its quarterly earnings results on Monday. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.18), FiscalAI reports.
Nkarta Stock Performance
Shares of NASDAQ NKTX opened at $2.46 on Tuesday. The firm’s 50 day moving average price is $2.67 and its 200-day moving average price is $2.58. Nkarta has a 52-week low of $1.70 and a 52-week high of $3.72. The company has a market cap of $175.99 million, a PE ratio of -1.84 and a beta of 0.93.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. TD Cowen began coverage on Nkarta in a research note on Tuesday, June 23rd. They set a “buy” rating for the company. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of Nkarta in a research report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a research note on Wednesday, June 24th. Wall Street Zen raised Nkarta from a “strong sell” rating to a “sell” rating in a research note on Sunday, August 2nd. Finally, Evercore set a $9.00 price objective on shares of Nkarta in a research note on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nkarta presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.40.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd boosted its position in Nkarta by 698.4% in the fourth quarter. XTX Topco Ltd now owns 134,730 shares of the company’s stock worth $249,000 after purchasing an additional 117,856 shares during the last quarter. Man Group plc increased its stake in shares of Nkarta by 102.7% in the fourth quarter. Man Group plc now owns 88,438 shares of the company’s stock worth $164,000 after purchasing an additional 44,810 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Nkarta by 22.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 107,800 shares of the company’s stock valued at $199,000 after acquiring an additional 20,000 shares during the period. Marshall Wace LLP raised its stake in Nkarta by 82.6% during the 4th quarter. Marshall Wace LLP now owns 155,036 shares of the company’s stock valued at $287,000 after purchasing an additional 70,122 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Nkarta by 43.1% in the second quarter. Invesco Ltd. now owns 99,297 shares of the company’s stock worth $165,000 after buying an additional 29,901 shares in the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.
Nkarta Company Profile
Nkarta, Inc is a clinical-stage biotechnology company specializing in the development of off-the-shelf natural killer (NK) cell therapies for the treatment of cancer. Leveraging proprietary activation and expansion technologies, Nkarta aims to harness the innate tumor-killing properties of NK cells while incorporating targeted immuno-engineering approaches to enhance safety, potency and persistence in patients. The company’s platform supports both allogeneic cell manufacturing and genetic modifications to generate chimeric antigen receptor-expressing NK cell candidates designed to address a range of hematologic and solid tumors.
Nkarta’s lead program, NKX019, is an anti-CD19 CAR-NK cell therapy in early-phase clinical trials for relapsed or refractory B-cell malignancies.
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