Nkarta, Inc. Forecasted to Post FY2023 Earnings of ($3.30) Per Share (NASDAQ:NKTX)

Nkarta, Inc. (NASDAQ:NKTXGet Rating) – Equities research analysts at Cantor Fitzgerald issued their FY2023 earnings estimates for shares of Nkarta in a report released on Monday, June 6th. Cantor Fitzgerald analyst L. Watsek forecasts that the company will post earnings of ($3.30) per share for the year. Cantor Fitzgerald has a “Overweight” rating on the stock.

Several other research analysts have also recently commented on the company. Zacks Investment Research upgraded Nkarta from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Tuesday, May 31st. Raymond James boosted their price target on Nkarta from $17.00 to $32.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 26th. Finally, HC Wainwright boosted their price target on Nkarta from $25.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $52.33.

NASDAQ:NKTX opened at $14.93 on Wednesday. Nkarta has a one year low of $7.55 and a one year high of $40.64. The business’s 50-day simple moving average is $13.11 and its 200 day simple moving average is $12.48. The stock has a market cap of $492.84 million, a price-to-earnings ratio of -5.29 and a beta of -0.32.

Nkarta (NASDAQ:NKTXGet Rating) last released its quarterly earnings results on Thursday, May 12th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.08).

In related news, Director Simeon George bought 1,333,333 shares of the stock in a transaction dated Thursday, April 28th. The stock was bought at an average cost of $15.00 per share, with a total value of $19,999,995.00. Following the completion of the acquisition, the director now owns 666,667 shares of the company’s stock, valued at $10,000,005. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ra Capital Management, L.P. bought 2,200,000 shares of the stock in a transaction dated Tuesday, April 26th. The shares were bought at an average cost of $15.00 per share, with a total value of $33,000,000.00. Following the completion of the acquisition, the director now directly owns 7,805,129 shares of the company’s stock, valued at approximately $117,076,935. The disclosure for this purchase can be found here. 12.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in Nkarta by 851.7% in the 3rd quarter. Goldman Sachs Group Inc. now owns 233,688 shares of the company’s stock worth $6,499,000 after buying an additional 209,133 shares in the last quarter. CWM LLC bought a new position in Nkarta in the 4th quarter worth approximately $1,730,000. Renaissance Technologies LLC bought a new position in Nkarta in the 3rd quarter worth approximately $851,000. Rock Springs Capital Management LP grew its holdings in Nkarta by 1.0% in the 3rd quarter. Rock Springs Capital Management LP now owns 503,148 shares of the company’s stock worth $13,993,000 after buying an additional 5,200 shares in the last quarter. Finally, Deep Track Capital LP bought a new position in Nkarta in the 4th quarter worth approximately $19,409,000. 74.19% of the stock is owned by institutional investors and hedge funds.

Nkarta Company Profile (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.

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