Nkarta (NASDAQ:NKTX) Issues Earnings Results

Nkarta (NASDAQ:NKTX) released its quarterly earnings results on Tuesday. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.02, FiscalAI reports.

Nkarta Stock Up 3.1%

Shares of NASDAQ:NKTX traded up $0.10 during trading on Tuesday, hitting $3.28. The stock had a trading volume of 500,695 shares, compared to its average volume of 821,900. The stock has a 50-day simple moving average of $2.56 and a two-hundred day simple moving average of $2.21. The stock has a market capitalization of $233.83 million, a price-to-earnings ratio of -2.34 and a beta of 0.88. Nkarta has a 12-month low of $1.63 and a 12-month high of $3.65.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NKTX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research note on Friday, March 27th. Needham & Company LLC increased their price target on Nkarta from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Wall Street Zen cut Nkarta from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Mizuho reduced 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. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $11.33.

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.