Nkarta (NASDAQ:NKTX) Posts Earnings Results, Beats Expectations By $0.06 EPS

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

Nkarta Trading Up 52.9 %

Shares of NASDAQ:NKTX traded up $0.73 during midday trading on Thursday, hitting $2.10. The stock had a trading volume of 21,416,247 shares, compared to its average volume of 1,054,482. Nkarta has a 1 year low of $1.31 and a 1 year high of $11.84. The stock has a 50 day moving average price of $2.01 and a two-hundred day moving average price of $2.90. The company has a market capitalization of $147.84 million, a PE ratio of -1.11 and a beta of 0.90.

Insider Activity at Nkarta

In other news, CEO Paul J. Hastings sold 17,378 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $2.20, for a total transaction of $38,231.60. Following the completion of the transaction, the chief executive officer now directly owns 319,859 shares of the company’s stock, valued at approximately $703,689.80. This represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on NKTX shares. Stifel Nicolaus cut 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. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Nkarta in a research note on Thursday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 target price on shares of Nkarta in a research note on Thursday. Six investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Nkarta has a consensus rating of “Buy” and an average price target 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.