Nkarta (NASDAQ:NKTX) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Nkarta (NASDAQ:NKTX) released its quarterly earnings data on Wednesday. The company reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.05), FiscalAI reports.

Nkarta Price Performance

Shares of NASDAQ NKTX traded up $0.08 during mid-day trading on Wednesday, reaching $2.13. 414,629 shares of the company’s stock traded hands, compared to its average volume of 766,559. The business has a 50-day simple moving average of $2.28 and a 200 day simple moving average of $2.10. The stock has a market cap of $151.29 million, a P/E ratio of -1.54 and a beta of 0.47. Nkarta has a 1-year low of $1.31 and a 1-year high of $2.81.

Insider Buying and Selling at Nkarta

In other Nkarta news, CEO Paul J. Hastings sold 26,046 shares of Nkarta stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $2.07, for a total transaction of $53,915.22. Following the completion of the transaction, the chief executive officer owned 390,023 shares in the company, valued at approximately $807,347.61. The trade was a 6.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GSK plc bought a new stake in Nkarta during the fourth quarter worth $5,829,000. Renaissance Technologies LLC lifted its stake in Nkarta by 48.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,702,022 shares of the company’s stock valued at $3,149,000 after acquiring an additional 556,945 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Nkarta by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,208,378 shares of the company’s stock worth $2,006,000 after acquiring an additional 10,065 shares during the last quarter. State Street Corp boosted its holdings in Nkarta by 1.9% during the 4th quarter. State Street Corp now owns 1,169,356 shares of the company’s stock worth $2,163,000 after acquiring an additional 21,241 shares during the last quarter. Finally, AWM Investment Company Inc. grew its stake in shares of Nkarta by 13.3% in the 4th quarter. AWM Investment Company Inc. now owns 906,000 shares of the company’s stock worth $1,676,000 after acquiring an additional 106,000 shares in the last quarter. Institutional investors own 80.54% of the company’s stock.

Analyst Ratings Changes

NKTX has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nkarta in a research note on Monday, December 29th. Wall Street Zen raised Nkarta from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Four equities 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 company. According to data from MarketBeat.com, Nkarta presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

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.