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

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

Nkarta Stock Up 52.0 %

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

Insider Activity at Nkarta

In other news, CEO Paul J. Hastings sold 17,378 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $2.20, for a total value of $38,231.60. Following the transaction, the chief executive officer now owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NKTX. Stifel Nicolaus lowered their target price on shares of Nkarta from $15.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of Nkarta in a research note on Thursday. Finally, HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Nkarta in a report on Thursday. Six research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Nkarta presently has a consensus rating of “Buy” and a consensus target price of $14.86.

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.