Nektar Therapeutics (NKTR) CEO Sells $1,964,182.38 in Stock
Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 83,334 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.57, for a total transaction of $1,964,182.38. Following the sale, the chief executive officer now directly owns 235,838 shares in the company, valued at $5,558,701.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Nektar Therapeutics (NASDAQ NKTR) traded down $0.56 during midday trading on Friday, hitting $23.53. 731,900 shares of the stock were exchanged, compared to its average volume of 1,063,695.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.04). Nektar Therapeutics had a negative return on equity of 1,223.34% and a negative net margin of 157.14%. The company had revenue of $34.60 million during the quarter, compared to analyst estimates of $33.64 million. During the same period last year, the company posted ($0.36) earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. equities research analysts predict that Nektar Therapeutics will post -0.95 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in shares of Nektar Therapeutics by 38.0% in the third quarter. BNP Paribas Arbitrage SA now owns 112,584 shares of the biopharmaceutical company’s stock worth $2,702,000 after acquiring an additional 30,985 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Nektar Therapeutics by 9.9% in the third quarter. Alps Advisors Inc. now owns 153,958 shares of the biopharmaceutical company’s stock worth $3,695,000 after acquiring an additional 13,915 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Nektar Therapeutics by 12.5% in the third quarter. Candriam Luxembourg S.C.A. now owns 259,900 shares of the biopharmaceutical company’s stock worth $6,238,000 after acquiring an additional 28,900 shares during the last quarter. Swiss National Bank increased its stake in shares of Nektar Therapeutics by 1.4% in the third quarter. Swiss National Bank now owns 259,500 shares of the biopharmaceutical company’s stock worth $6,228,000 after acquiring an additional 3,700 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in shares of Nektar Therapeutics by 8.5% in the third quarter. Tocqueville Asset Management L.P. now owns 252,202 shares of the biopharmaceutical company’s stock worth $6,053,000 after acquiring an additional 19,800 shares during the last quarter. 95.13% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have issued reports on NKTR. Jefferies Group LLC reissued a “buy” rating and set a $23.00 target price on shares of Nektar Therapeutics in a research note on Friday, July 21st. Roth Capital set a $33.00 target price on shares of Nektar Therapeutics and gave the company a “buy” rating in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Evercore ISI began coverage on shares of Nektar Therapeutics in a research note on Thursday, August 17th. They set an “in-line” rating and a $20.00 target price on the stock. Finally, William Blair reissued an “outperform” rating on shares of Nektar Therapeutics in a research note on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $26.80.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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