Nkarta (NASDAQ:NKTX) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Nkarta (NASDAQ:NKTX) announced its quarterly earnings data on Tuesday. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.02, FiscalAI reports.

Nkarta Price Performance

Shares of NKTX stock traded down $0.11 during mid-day trading on Thursday, hitting $2.96. 251,827 shares of the stock traded hands, compared to its average volume of 816,273. The stock has a market cap of $210.66 million, a P/E ratio of -2.21 and a beta of 0.88. The stock’s fifty day moving average is $2.58 and its two-hundred day moving average is $2.22. Nkarta has a 52-week low of $1.63 and a 52-week high of $3.65.

Institutional Trading of Nkarta

Institutional investors have recently made changes to their positions in the business. Abel Hall LLC acquired a new stake in shares of Nkarta in the 4th quarter worth $27,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nkarta in the 4th quarter worth $37,000. Prelude Capital Management LLC acquired a new stake in shares of Nkarta in the 3rd quarter worth $90,000. Man Group plc acquired a new stake in shares of Nkarta in the 3rd quarter worth $90,000. Finally, Wells Fargo & Company MN boosted its position in shares of Nkarta by 45.8% in the 4th quarter. Wells Fargo & Company MN now owns 47,997 shares of the company’s stock worth $89,000 after purchasing an additional 15,079 shares in the last quarter. Institutional investors and hedge funds own 80.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NKTX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 target price on shares of Nkarta in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research report on Friday, March 27th. Mizuho decreased their price objective on Nkarta from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Finally, Wall Street Zen lowered Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $11.33.

About Nkarta

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.