Nkarta (NASDAQ:NKTX) Issues Quarterly Earnings Results

Key Points

• Nkarta reported earnings of ($0.31) per share for the quarter, exceeding analyst estimates of ($0.37) by $0.06.
• The stock is currently priced at $1.96 with a market capitalization of $139.08 million and significant fluctuations in its price over the past year.
• Analysts have mixed opinions on Nkarta, with a consensus rating of "Buy" and a price target averaging $14.33.

Nkarta (NASDAQ:NKTX - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.31) EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.06, Zacks reports.

Nkarta Price Performance

Shares of Nkarta stock traded up $0.13 on Friday, hitting $2.33. 933,824 shares of the company's stock traded hands, compared to its average volume of 559,286. Nkarta has a one year low of $1.31 and a one year high of $6.63. The company has a fifty day moving average of $1.93 and a two-hundred day moving average of $1.89. The company has a market capitalization of $165.50 million, a price-to-earnings ratio of -1.57 and a beta of 0.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NKTX shares. Wall Street Zen upgraded Nkarta from a "sell" rating to a "hold" rating in a research report on Saturday. Mizuho reduced their price target on Nkarta from $16.00 to $14.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 10th. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price target on shares of Nkarta in a research report on Wednesday. William Blair reiterated a "market perform" rating on shares of Nkarta in a research report on Thursday, May 15th. Finally, Stifel Nicolaus reduced their price target on Nkarta from $14.00 to $12.00 and set a "buy" rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nkarta presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.60.

Institutional Investors Weigh In On Nkarta

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its position in shares of Nkarta by 4.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 231,081 shares of the company's stock valued at $384,000 after purchasing an additional 8,968 shares in the last quarter. Invesco Ltd. boosted its position in shares of Nkarta by 43.1% during the 2nd quarter. Invesco Ltd. now owns 99,297 shares of the company's stock valued at $165,000 after purchasing an additional 29,901 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Nkarta by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company's stock valued at $2,006,000 after purchasing an additional 10,065 shares in the last quarter. Jane Street Group LLC boosted its position in shares of Nkarta by 118.7% during the 1st quarter. Jane Street Group LLC now owns 134,286 shares of the company's stock valued at $247,000 after purchasing an additional 852,559 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Nkarta by 13.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 681,068 shares of the company's stock valued at $1,253,000 after purchasing an additional 80,211 shares in the last quarter. Institutional investors own 80.54% of the company's stock.

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.