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

Nkarta (NASDAQ:NKTX) posted its quarterly earnings results on Wednesday. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.06, Zacks reports.

Nkarta Stock Up 52.0 %

NKTX traded up $0.71 during midday trading on Thursday, hitting $2.08. 20,970,816 shares of the company were exchanged, compared to its average volume of 1,053,182. The firm has a market capitalization of $146.92 million, a P/E ratio of -1.11 and a beta of 0.90. The firm’s 50 day moving average price is $2.01 and its 200-day moving average price is $2.90. Nkarta has a 1-year low of $1.31 and a 1-year high of $11.84.

Analysts Set New Price Targets

Several analysts recently weighed in on NKTX shares. Stifel Nicolaus reduced their price objective on Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Nkarta in a research note on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $11.00 price objective on shares of Nkarta in a research note on Thursday. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $14.86.

Insider Activity at Nkarta

In related news, CEO Paul J. Hastings sold 17,378 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total transaction of $38,231.60. Following the sale, the chief executive officer now directly owns 319,859 shares in the company, valued at approximately $703,689.80. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is owned by company insiders.

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.