Equities Analysts Offer Predictions for Nkarta, Inc.’s Q1 2024 Earnings (NASDAQ:NKTX)

Nkarta, Inc. (NASDAQ:NKTX) – Investment analysts at HC Wainwright boosted their Q1 2024 earnings per share estimates for shares of Nkarta in a report released on Monday, March 25th. HC Wainwright analyst E. Bodnar now expects that the company will post earnings per share of ($0.46) for the quarter, up from their prior estimate of ($0.51). HC Wainwright currently has a “Buy” rating and a $20.00 price objective on the stock. The consensus estimate for Nkarta’s current full-year earnings is ($2.33) per share. HC Wainwright also issued estimates for Nkarta’s Q2 2024 earnings at ($0.33) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.38) EPS, FY2024 earnings at ($1.54) EPS, FY2025 earnings at ($1.96) EPS, FY2026 earnings at ($2.53) EPS, FY2027 earnings at ($2.44) EPS and FY2028 earnings at ($1.96) EPS.

Nkarta (NASDAQ:NKTX) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.57) EPS for the quarter, beating analysts’ consensus estimates of ($0.62) by $0.05.

Several other equities analysts also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price on shares of Nkarta in a research report on Friday, March 22nd. Raymond James reissued an “outperform” rating and issued a $16.00 price objective (up from $13.00) on shares of Nkarta in a research note on Friday, March 22nd. Canaccord Genuity Group lifted their target price on shares of Nkarta from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Mizuho decreased their target price on Nkarta from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Nkarta presently has an average rating of “Buy” and an average target price of $17.83.

Nkarta Trading Down 2.5 %

NKTX opened at $10.81 on Wednesday. Nkarta has a 12-month low of $1.28 and a 12-month high of $16.24. The company’s 50 day moving average is $10.91 and its 200 day moving average is $5.94. The company has a market cap of $534.23 million, a price-to-earnings ratio of -4.50 and a beta of 0.73.

Hedge Funds Weigh In On Nkarta

A number of large investors have recently bought and sold shares of NKTX. Quantbot Technologies LP lifted its position in shares of Nkarta by 39.1% during the first quarter. Quantbot Technologies LP now owns 3,200 shares of the company’s stock worth $36,000 after purchasing an additional 900 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Nkarta by 8.9% during the fourth quarter. Principal Financial Group Inc. now owns 15,793 shares of the company’s stock valued at $104,000 after buying an additional 1,288 shares during the period. Wellington Management Group LLP grew its holdings in Nkarta by 5.9% during the 1st quarter. Wellington Management Group LLP now owns 27,879 shares of the company’s stock worth $317,000 after acquiring an additional 1,554 shares in the last quarter. XTX Topco Ltd increased its position in Nkarta by 23.1% during the 1st quarter. XTX Topco Ltd now owns 12,936 shares of the company’s stock valued at $46,000 after purchasing an additional 2,424 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Nkarta by 22.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,226 shares of the company’s stock worth $94,000 after purchasing an additional 2,613 shares during the period. Hedge funds and other institutional investors own 80.54% of the company’s stock.

Insider Activity

In related news, CEO Paul J. Hastings sold 9,697 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $8.74, for a total transaction of $84,751.78. Following the sale, the chief executive officer now owns 390,507 shares of the company’s stock, valued at $3,413,031.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Nkarta news, CEO Paul J. Hastings sold 9,697 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $8.74, for a total transaction of $84,751.78. Following the sale, the chief executive officer now directly owns 390,507 shares in the company, valued at $3,413,031.18. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Simeon George bought 2,000,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $20,000,000.00. Following the transaction, the director now owns 1,548,341 shares in the company, valued at approximately $15,483,410. The disclosure for this purchase can be found here. Insiders sold a total of 17,392 shares of company stock worth $165,512 over the last 90 days. Corporate insiders own 5.60% of the company’s stock.

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.