Nektar Therapeutics (NASDAQ:NKTR) Announces Quarterly Earnings Results

Nektar Therapeutics (NASDAQ:NKTR) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, beating the consensus estimate of ($1.97) by $0.74, FiscalAI reports. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The company had revenue of $10.13 million during the quarter, compared to the consensus estimate of $10.43 million.

Nektar Therapeutics Price Performance

NKTR traded down $0.11 during trading on Thursday, hitting $75.92. The company had a trading volume of 623,957 shares, compared to its average volume of 1,046,597. The company has a market cap of $2.57 billion, a PE ratio of -9.02 and a beta of 1.14. Nektar Therapeutics has a 1-year low of $25.01 and a 1-year high of $109.00. The business has a 50-day moving average of $67.33 and a 200-day moving average of $68.75.

Analyst Ratings Changes

Several equities analysts recently commented on NKTR shares. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Piper Sandler upped their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Canaccord Genuity Group initiated coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They set a “buy” rating and a $153.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nektar Therapeutics has an average rating of “Moderate Buy” and an average price target of $150.00.

Insider Buying and Selling at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the sale, the chief executive officer owned 65,045 shares of the company’s stock, valued at $3,923,514.40. This represents a 13.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jonathan Zalevsky sold 5,681 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the sale, the insider directly owned 9,756 shares in the company, valued at $682,920. This represents a 36.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 21,862 shares of company stock valued at $1,379,205. 2.50% of the stock is owned by insiders.

Institutional Trading of Nektar Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in shares of Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 2,807,595 shares during the period. Prosight Management LP acquired a new stake in Nektar Therapeutics during the 4th quarter worth approximately $23,450,000. Two Sigma Investments LP raised its holdings in Nektar Therapeutics by 446.9% during the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock worth $24,708,000 after buying an additional 354,842 shares during the period. Invesco Ltd. lifted its stake in Nektar Therapeutics by 106.3% in the fourth quarter. Invesco Ltd. now owns 468,159 shares of the biopharmaceutical company’s stock valued at $19,794,000 after buying an additional 241,262 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Nektar Therapeutics by 30.0% in the third quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock valued at $53,978,000 after buying an additional 219,155 shares in the last quarter. 75.88% of the stock is currently owned by 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.