Nkarta (NASDAQ:NKTX) Posts Earnings Results, Misses Estimates By $0.18 EPS

Nkarta (NASDAQ:NKTXGet 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.

Get Our Latest Research Report on NKTX

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

(Get Free Report)

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.

Further Reading

Earnings History for Nkarta (NASDAQ:NKTX)

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