Q1 2024 Earnings Estimate for Nkarta, Inc. Issued By HC Wainwright (NASDAQ:NKTX)

Nkarta, Inc. (NASDAQ:NKTX) – Investment analysts at HC Wainwright lifted their Q1 2024 earnings per share (EPS) estimates for shares of Nkarta in a report released on Monday, March 25th. HC Wainwright analyst E. Bodnar now forecasts that the company will earn ($0.46) per share for the quarter, up from their previous forecast of ($0.51). HC Wainwright 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.

NKTX has been the subject of a number of other research reports. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of Nkarta in a report on Friday, March 22nd. Mizuho decreased their price target on Nkarta from $31.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Canaccord Genuity Group raised their price target on Nkarta from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nkarta currently has an average rating of “Buy” and an average price target of $17.83.

Nkarta Trading Down 2.5 %

Shares of NKTX opened at $10.81 on Wednesday. The stock’s 50 day moving average is $10.91 and its two-hundred day moving average is $5.94. Nkarta has a twelve month low of $1.28 and a twelve month high of $16.24. The firm has a market capitalization of $534.23 million, a PE ratio of -4.50 and a beta of 0.73.

Nkarta (NASDAQ:NKTX) last released its earnings results on Thursday, March 21st. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.62) by $0.05.

Insiders Place Their Bets

In other news, Director Simeon George acquired 2,000,000 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was acquired at an average price of $10.00 per share, with a total value of $20,000,000.00. Following the completion of the transaction, the director now directly owns 1,548,341 shares in the company, valued at approximately $15,483,410. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Nkarta news, Director Simeon George bought 2,000,000 shares of Nkarta stock in a transaction that occurred on Wednesday, March 27th. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $20,000,000.00. Following the completion of the transaction, the director now owns 1,548,341 shares of the company’s stock, valued at approximately $15,483,410. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Shook sold 3,552 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $8.74, for a total transaction of $31,044.48. Following the transaction, the insider now directly owns 114,980 shares of the company’s stock, valued at approximately $1,004,925.20. The disclosure for this sale can be found here. Insiders have sold 17,392 shares of company stock valued at $165,512 in the last ninety days. Insiders own 5.60% of the company’s stock.

Institutional Trading of Nkarta

Institutional investors have recently made changes to their positions in the stock. Innovis Asset Management LLC acquired a new stake in Nkarta during the third quarter worth about $193,000. Acadian Asset Management LLC acquired a new position in shares of Nkarta during the 3rd quarter valued at $89,000. Forefront Analytics LLC boosted its stake in shares of Nkarta by 282.5% in the third quarter. Forefront Analytics LLC now owns 39,657 shares of the company’s stock valued at $55,000 after purchasing an additional 29,290 shares during the period. Monaco Asset Management SAM acquired a new stake in Nkarta during the 3rd quarter valued at approximately $327,000. Finally, Prelude Capital Management LLC acquired a new stake in Nkarta in the second quarter valued at $34,000. 80.54% of the stock is owned by hedge funds and other institutional investors.

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.