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

Posted by on Jun 8th, 2022

Nkarta, Inc. (NASDAQ:NKTX – Get 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:NKTX – Get 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.

Featured Articles

Earnings History and Estimates for Nkarta (NASDAQ:NKTX)

Want More Great Investing Ideas?

Receive News & Ratings for Nkarta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nkarta and related companies with MarketBeat.com's FREE daily email newsletter.