Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin Sells 10,000 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 10,000 shares of Nektar Therapeutics stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares of the company’s stock, valued at $3,923,514.40. The trade was a 13.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Nektar Therapeutics Trading Up 0.1%

Shares of NKTR stock opened at $60.98 on Friday. The stock has a market capitalization of $2.06 billion, a P/E ratio of -7.24 and a beta of 1.13. The firm’s 50 day moving average is $73.36 and its 200 day moving average is $62.16. Nektar Therapeutics has a 12 month low of $8.27 and a 12 month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The business had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. On average, equities analysts predict that Nektar Therapeutics will post -9.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NKTR. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Piper Sandler lifted their target price on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Wedbush lowered their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Finally, B. Riley Financial restated a “buy” rating and issued a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a research report on Monday, February 23rd. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.62.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NKTR. Glenmede Trust Co. NA raised its holdings in shares of Nektar Therapeutics by 61.4% in the 1st quarter. Glenmede Trust Co. NA now owns 13,865 shares of the biopharmaceutical company’s stock valued at $998,000 after acquiring an additional 5,275 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Nektar Therapeutics by 126.0% during the 1st quarter. Bank of America Corp DE now owns 58,958 shares of the biopharmaceutical company’s stock valued at $4,242,000 after acquiring an additional 32,866 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Nektar Therapeutics by 32.5% during the first quarter. Janus Henderson Group PLC now owns 10,729 shares of the biopharmaceutical company’s stock worth $771,000 after purchasing an additional 2,629 shares in the last quarter. ADAR1 Capital Management LLC grew its holdings in shares of Nektar Therapeutics by 123.9% during the first quarter. ADAR1 Capital Management LLC now owns 161,252 shares of the biopharmaceutical company’s stock worth $11,602,000 after purchasing an additional 89,221 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Nektar Therapeutics by 97.5% in the first quarter. California State Teachers Retirement System now owns 28,682 shares of the biopharmaceutical company’s stock worth $2,064,000 after purchasing an additional 14,162 shares during the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Nektar Therapeutics Company Profile

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.