Nkarta (NASDAQ:NKTX) Issues Earnings Results

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 %

NASDAQ:NKTX traded up $0.73 during mid-day 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 twelve month low of $1.31 and a twelve month high of $11.84. The stock has a 50-day simple moving average of $2.01 and a two-hundred day simple moving average 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.

Insiders Place Their Bets

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

Analysts Set New Price Targets

NKTX has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and set a $11.00 target price on shares of Nkarta in a research note on Thursday. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Nkarta in a research note on Thursday. Finally, Stifel Nicolaus dropped their price objective on shares of Nkarta from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Nkarta currently has an average rating of “Buy” and an average target price of $14.86.

About Nkarta

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.