Nkarta (NASDAQ:NKTX) Issues Quarterly Earnings Results

Nkarta (NASDAQ:NKTX) released its earnings results on Monday. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.15), FiscalAI reports.

Nkarta Price Performance

Shares of NKTX traded up $0.04 on Wednesday, reaching $2.37. 202,400 shares of the stock traded hands, compared to its average volume of 758,449. The stock’s 50-day moving average price is $2.66 and its 200-day moving average price is $2.58. The firm has a market cap of $169.20 million, a price-to-earnings ratio of -1.51 and a beta of 0.93. Nkarta has a 12 month low of $1.70 and a 12 month high of $3.72.

Hedge Funds Weigh In On Nkarta

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its stake 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 worth $384,000 after acquiring an additional 8,968 shares during the period. Geode Capital Management LLC increased its holdings in shares of Nkarta by 0.8% in the second 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 during the last quarter. Abel Hall LLC bought a new position in shares of Nkarta in the fourth quarter valued at about $27,000. Wells Fargo & Company MN lifted its stake in shares of Nkarta by 45.8% during the 4th quarter. Wells Fargo & Company MN now owns 47,997 shares of the company’s stock worth $89,000 after buying an additional 15,079 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nkarta during the 4th quarter worth about $37,000. 80.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. HC Wainwright reduced their price objective on Nkarta to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Nkarta in a report on Wednesday, May 13th. Wall Street Zen upgraded Nkarta from a “strong sell” rating to a “sell” rating in a report on Sunday, August 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. Finally, Evercore set a $9.00 target price on shares of Nkarta in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.40.

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.