Nkarta (NASDAQ:NKTX) Releases Earnings Results, Misses Estimates By $0.08 EPS

Nkarta (NASDAQ:NKTXGet Rating) posted its quarterly earnings results on Thursday. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.08), MarketWatch Earnings reports.

NKTX traded up $1.34 on Friday, hitting $14.02. The company’s stock had a trading volume of 958,022 shares, compared to its average volume of 8,415,433. The company’s 50 day simple moving average is $12.21 and its 200-day simple moving average is $12.99. Nkarta has a 12 month low of $7.55 and a 12 month high of $40.64. The firm has a market cap of $462.80 million, a P/E ratio of -4.97 and a beta of -0.38.

In other news, Director Simeon George bought 1,333,333 shares of the firm’s stock in a transaction that occurred on Thursday, April 28th. The stock was bought at an average price of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the transaction, the director now directly owns 666,667 shares of the company’s stock, valued at approximately $10,000,005. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ra Capital Management, L.P. purchased 2,200,000 shares of the company’s stock in a transaction on Tuesday, April 26th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $33,000,000.00. Following the purchase, the director now owns 7,805,129 shares in the company, valued at approximately $117,076,935. The disclosure for this purchase can be found here. 12.60% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKTX. Wells Fargo & Company MN increased its stake in shares of Nkarta by 37.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,032 shares of the company’s stock worth $254,000 after acquiring an additional 2,207 shares during the last quarter. Morgan Stanley boosted its holdings in Nkarta by 65.1% in the second quarter. Morgan Stanley now owns 158,126 shares of the company’s stock valued at $5,011,000 after purchasing an additional 62,376 shares during the period. UBS Group AG boosted its holdings in Nkarta by 497.6% in the third quarter. UBS Group AG now owns 51,885 shares of the company’s stock valued at $1,443,000 after purchasing an additional 43,203 shares during the period. Two Sigma Investments LP purchased a new stake in Nkarta during the 3rd quarter worth about $239,000. Finally, Bank of New York Mellon Corp lifted its holdings in Nkarta by 4.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 54,237 shares of the company’s stock worth $1,508,000 after buying an additional 2,291 shares during the last quarter. 74.19% of the stock is owned by institutional investors.

NKTX has been the topic of several research analyst reports. HC Wainwright raised their target price on shares of Nkarta from $25.00 to $36.00 and gave the company a “buy” rating in a research note on Monday, April 25th. Zacks Investment Research raised shares of Nkarta from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Tuesday, April 5th. Cantor Fitzgerald reissued an “overweight” rating on shares of Nkarta in a research report on Tuesday, March 29th. Finally, Raymond James upped their price target on shares of Nkarta from $17.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, April 26th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $52.22.

About Nkarta (Get Rating)

Nkarta, Inc, a a clinical-stage biopharmaceutical company, develops and commercializes cell therapies for cancer treatment. The company's approach for cellular immunotherapy involves chimeric antigen receptors on the surface of a natural killer (NK) cell that enable the cell to recognize specific proteins or antigens that are present on the surface of tumor cells.

See Also

Earnings History for Nkarta (NASDAQ:NKTX)

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