Nkarta (NASDAQ:NKTX) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Nkarta (NASDAQ:NKTX) posted its quarterly earnings data on Monday. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.03, Zacks reports.

Nkarta Stock Performance

Shares of NKTX remained flat at $1.96 during midday trading on Monday. 513,551 shares of the stock were exchanged, compared to its average volume of 935,677. The firm has a market capitalization of $139.22 million, a P/E ratio of -1.32 and a beta of 0.86. The business has a fifty day moving average price of $2.14 and a two-hundred day moving average price of $2.02. Nkarta has a fifty-two week low of $1.31 and a fifty-two week high of $3.81.

Institutional Trading of Nkarta

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its holdings in 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 buying an additional 8,968 shares during the last quarter. Invesco Ltd. raised its position in shares of Nkarta by 43.1% during the 2nd quarter. Invesco Ltd. now owns 99,297 shares of the company’s stock worth $165,000 after acquiring an additional 29,901 shares in the last quarter. Geode Capital Management LLC lifted its stake in Nkarta by 0.8% during the second quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock worth $2,006,000 after purchasing an additional 10,065 shares during the last quarter. Jane Street Group LLC lifted its stake in Nkarta by 118.7% during the first quarter. Jane Street Group LLC now owns 134,286 shares of the company’s stock worth $247,000 after purchasing an additional 852,559 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Nkarta by 13.3% during the first quarter. Goldman Sachs Group Inc. now owns 681,068 shares of the company’s stock worth $1,253,000 after purchasing an additional 80,211 shares in the last quarter. 80.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NKTX. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of Nkarta in a report on Wednesday, August 13th. Wall Street Zen raised Nkarta from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Stifel Nicolaus reduced their price objective on Nkarta from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nkarta in a research note on Friday, October 31st. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.50.

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.