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

Nkarta (NASDAQ:NKTX) released its quarterly earnings results on Monday. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.18), FiscalAI reports.

Nkarta Stock Up 2.1%

NASDAQ:NKTX traded up $0.05 during mid-day trading on Monday, hitting $2.46. 528,639 shares of the company traded hands, compared to its average volume of 763,597. The stock’s fifty day moving average price is $2.68 and its 200-day moving average price is $2.58. Nkarta has a one year low of $1.70 and a one year high of $3.72. The firm has a market cap of $175.99 million, a price-to-earnings ratio of -1.84 and a beta of 0.93.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NKTX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nkarta in a research report on Wednesday, June 24th. TD Cowen began coverage on Nkarta in a research report on Tuesday, June 23rd. They issued a “buy” rating on the stock. Evercore set a $9.00 price target on Nkarta in a research note on Monday, May 18th. Wall Street Zen raised shares of Nkarta from a “strong sell” rating to a “sell” rating in a research report on Sunday, August 2nd. Finally, Needham & Company LLC reiterated 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 given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.75.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. XTX Topco Ltd grew its stake in shares of Nkarta by 698.4% during the 4th quarter. XTX Topco Ltd now owns 134,730 shares of the company’s stock valued at $249,000 after acquiring an additional 117,856 shares during the period. Man Group plc raised its stake in Nkarta by 102.7% during the 4th quarter. Man Group plc now owns 88,438 shares of the company’s stock worth $164,000 after acquiring an additional 44,810 shares during the period. Bridgeway Capital Management LLC raised its stake in Nkarta by 22.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 107,800 shares of the company’s stock worth $199,000 after acquiring an additional 20,000 shares during the period. Marshall Wace LLP lifted its holdings in Nkarta by 82.6% during the fourth quarter. Marshall Wace LLP now owns 155,036 shares of the company’s stock valued at $287,000 after purchasing an additional 70,122 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Nkarta by 43.1% during the second 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. 80.54% of the stock is owned by hedge funds and other institutional investors.

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.