Nkarta (NASDAQ:NKTX) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Nkarta (NASDAQ:NKTX) released its quarterly earnings results on Monday. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.03, Zacks reports.

Nkarta Stock Performance

Shares of NASDAQ:NKTX remained flat at $1.96 during midday trading on Monday. The company had a trading volume of 513,551 shares, compared to its average volume of 935,677. Nkarta has a 12-month low of $1.31 and a 12-month high of $3.81. The stock has a market capitalization of $139.22 million, a PE ratio of -1.32 and a beta of 0.86. The firm’s fifty day moving average is $2.14 and its 200-day moving average is $2.02.

Institutional Investors Weigh In On Nkarta

Hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in Nkarta by 478.4% in the 1st quarter. Invesco Ltd. now owns 69,396 shares of the company’s stock valued at $128,000 after purchasing an additional 57,399 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Nkarta by 300.5% during the 1st quarter. AQR Capital Management LLC now owns 672,078 shares of the company’s stock valued at $1,237,000 after buying an additional 504,272 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Nkarta by 13.3% in the first quarter. Goldman Sachs Group Inc. now owns 681,068 shares of the company’s stock valued at $1,253,000 after acquiring an additional 80,211 shares during the last quarter. Jane Street Group LLC grew its position in Nkarta by 118.7% in the first quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock worth $247,000 after acquiring an additional 852,559 shares during the period. Finally, Geode Capital Management LLC grew its position in Nkarta by 0.8% in the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock worth $2,006,000 after acquiring an additional 10,065 shares during the period. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a research report on Friday, October 31st. Stifel Nicolaus decreased their price target on shares of Nkarta from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Wall Street Zen upgraded Nkarta from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Nkarta in a report on Wednesday, August 13th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nkarta currently has an average rating of “Moderate Buy” and a consensus price target of $13.50.

Nkarta Company Profile

Nkarta, Inc, a clinical-stage biopharmaceutical company, develops and commercializes natural killer cell therapies for cancer and autoimmune disease treatment. The company's lead product candidate is NKX019, a chimeric antigen receptor-natural killer (CAR NK) targeting the CD19 antigen that is in Phase 1 clinical trial for the treatment of relapsed/refractory (r/r) non-hodgkin lymphoma, as well as for lupus nephritis.