Nkarta (NASDAQ:NKTX) Announces Earnings Results

Nkarta (NASDAQ:NKTX) released its 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

NKTX traded up $0.05 on Monday, reaching $2.46. The company had a trading volume of 528,619 shares, compared to its average volume of 763,597. The stock has a market cap of $175.99 million, a P/E ratio of -1.84 and a beta of 0.93. Nkarta has a fifty-two week low of $1.70 and a fifty-two week high of $3.72. The company’s fifty day moving average is $2.68 and its 200 day moving average is $2.58.

Analysts Set New Price Targets

NKTX has been the topic of several recent research reports. Wall Street Zen upgraded Nkarta from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Nkarta in a report on Wednesday, June 24th. Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of Nkarta in a report on Wednesday, May 13th. TD Cowen initiated coverage on Nkarta in a research note on Tuesday, June 23rd. They issued a “buy” rating on the stock. Finally, Evercore set a $9.00 price target on shares of Nkarta in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nkarta presently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Institutional Investors Weigh In On Nkarta

A number of institutional investors have recently modified their holdings of NKTX. Hsbc Holdings PLC raised its stake in Nkarta by 70.0% in the 4th quarter. Hsbc Holdings PLC now owns 161,434 shares of the company’s stock worth $299,000 after purchasing an additional 66,479 shares in the last quarter. Invesco Ltd. grew its position in shares of Nkarta by 28.8% during the 4th quarter. Invesco Ltd. now owns 150,476 shares of the company’s stock worth $278,000 after purchasing an additional 33,632 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Nkarta by 698.4% during 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 period. Man Group plc increased its holdings in shares of Nkarta by 102.7% during 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 during the period. Finally, Bridgeway Capital Management LLC raised its position in shares of Nkarta by 22.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 107,800 shares of the company’s stock valued at $199,000 after buying an additional 20,000 shares in the last quarter. Institutional investors own 80.54% of the company’s stock.

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.