Nkarta (NASDAQ:NKTX) Posts Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Key Points

• Nkarta reported a quarterly loss of $0.54 per share, missing the consensus estimate of a $0.36 loss by $0.18.
• NKTX shares rose 2.1% to $2.46 in midday trading, giving the company a market capitalization of approximately $176 million.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $10.75; institutional investors own 80.54% of the stock.

Nkarta (NASDAQ:NKTX - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.18), FiscalAI reports.

Nkarta Stock Up 2.1%

NKTX stock traded up $0.05 during midday trading on Monday, reaching $2.46. 528,619 shares of the company's stock traded hands, compared to its average volume of 763,597. Nkarta has a 1-year low of $1.70 and a 1-year high of $3.72. The company has a market cap of $175.99 million, a price-to-earnings ratio of -1.84 and a beta of 0.93. The company has a 50-day simple moving average of $2.68 and a two-hundred day simple moving average of $2.58.

Institutional Trading of Nkarta

A number of hedge funds and other institutional investors have recently modified their holdings of NKTX. Abel Hall LLC acquired a new stake in shares of Nkarta in the 4th quarter valued at $27,000. Dynamic Technology Lab Private Ltd acquired a new stake in Nkarta in the fourth quarter worth about $37,000. Prelude Capital Management LLC acquired a new stake in Nkarta in the third quarter worth about $90,000. Man Group plc bought a new stake in Nkarta during the 3rd quarter worth about $90,000. Finally, Wells Fargo & Company MN lifted its position in Nkarta by 45.8% during the 4th quarter. Wells Fargo & Company MN now owns 47,997 shares of the company's stock valued at $89,000 after purchasing an additional 15,079 shares during the period. Institutional investors and hedge funds own 80.54% of the company's stock.

Analyst Upgrades and Downgrades

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

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.

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