Nkarta (NASDAQ:NKTX) Announces Earnings Results, Beats Estimates By $0.06 EPS

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) announced its earnings results on Tuesday. The company reported ($0.31) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.06, Zacks reports.

Nkarta Price Performance

Shares of NASDAQ NKTX traded down $0.05 during mid-day trading on Tuesday, reaching $1.96. 364,557 shares of the company's stock traded hands, compared to its average volume of 954,134. The stock has a market cap of $139.08 million, a P/E ratio of -1.30 and a beta of 0.72. The business has a 50-day simple moving average of $1.91 and a 200 day simple moving average of $1.89. Nkarta has a 1-year low of $1.31 and a 1-year high of $6.63.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NKTX shares. William Blair restated a "market perform" rating on shares of Nkarta in a report on Thursday, May 15th. Needham & Company LLC reduced their price target on shares of Nkarta from $11.00 to $10.00 and set a "buy" rating for the company in a report on Thursday, May 15th. Finally, Mizuho reduced their price target on shares of Nkarta from $16.00 to $14.00 and set an "outperform" rating for the company in a report on Tuesday, June 10th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $14.33.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 10,065 shares during the last quarter. Invesco Ltd. grew its holdings in shares of 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 buying an additional 57,399 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 buying an additional 80,211 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of 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 buying an additional 504,272 shares during the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of 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 buying an additional 852,559 shares during the last quarter. 80.54% of the stock is currently owned by institutional investors and hedge funds.

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.

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