These Analysts Revise Their Forecasts On Nkarta After Q4 Results

Nkarta, Inc. NKTX posted a loss for the fourth quarter on Thursday.

The company posted a quarterly loss of 57 cents per share, compared to market expectations for a loss of 59 cents per share, according to data from Benzinga Pro.

“Patients with severe autoimmune diseases deserve novel, effective treatments,” noted Paul J. Hastings, President and CEO of Nkarta. “Recent academic studies have shown that CD19-directed cell therapy has the promise to be truly transformative, and we believe that NKX019 may replicate these early results with superior safety and accessibility. Our approach leverages the potential advantages of NK cells, including fludarabine-free lymphodepletion, deep and rapid B-cell depletion, and the added utility of on-demand dosing. Work with investigators, sites and patients is advancing rapidly, and we remain on track to initiate dosing in our clinical trial of NKX019 in refractory lupus nephritis in the first half of 2024.”

Nkarta shares fell 5.4% to $12.28 in pre-market trading. The company's stock gained 1.5% in regular trading hours on Thursday.

These analysts made changes to their price targets on Nkarta following earnings announcement.

• Raymond James raised the price target on Nkarta from $13 to $16. Raymond James analyst Laura Prendergast downgraded the stock from Strong Buy to Outperform.
• HC Wainwright & Co. slashed the price target on Nkarta from $22 to $20. HC Wainwright & Co. analyst Emily Bodnar maintained a Buy rating.
• Needham analyst Gil Blum reiterated Nkarta with a Buy and maintained a $15 price target. 

Check This Out: FedEx, Nike And 3 Stocks To Watch Heading Into Friday