Stock Traders Purchase Large Volume of Nektar Therapeutics Put Options (NKTR)
Nektar Therapeutics (NASDAQ:NKTR) saw some unusual options trading on Wednesday. Stock investors acquired 1,897 put options on the stock. This represents an increase of 954% compared to the typical volume of 180 put options.
In related news, CEO Howard W. Robin sold 83,334 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.57, for a total transaction of $1,964,182.38. Following the completion of the sale, the chief executive officer now directly owns 235,838 shares in the company, valued at approximately $5,558,701.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Howard W. Robin sold 83,333 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $55.69, for a total value of $4,640,814.77. Following the sale, the chief executive officer now owns 272,768 shares of the company’s stock, valued at $15,190,449.92. The disclosure for this sale can be found here. Insiders have sold a total of 614,017 shares of company stock valued at $20,587,527 over the last 90 days. 5.44% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKTR. Janus Henderson Group PLC purchased a new stake in Nektar Therapeutics in the 2nd quarter worth approximately $34,661,000. PointState Capital LP lifted its holdings in Nektar Therapeutics by 281.7% in the 2nd quarter. PointState Capital LP now owns 1,731,000 shares of the biopharmaceutical company’s stock worth $33,841,000 after buying an additional 1,277,500 shares during the period. Rubric Capital Management LP purchased a new position in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $23,924,000. State Street Corp lifted its stake in shares of Nektar Therapeutics by 11.3% in the 2nd quarter. State Street Corp now owns 4,408,270 shares of the biopharmaceutical company’s stock valued at $86,179,000 after purchasing an additional 447,023 shares during the period. Finally, Numeric Investors LLC lifted its stake in shares of Nektar Therapeutics by 2,111.5% in the 2nd quarter. Numeric Investors LLC now owns 440,729 shares of the biopharmaceutical company’s stock valued at $8,616,000 after purchasing an additional 420,800 shares during the period. Institutional investors and hedge funds own 96.01% of the company’s stock.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.16. Nektar Therapeutics had a return on equity of 557.76% and a net margin of 39.80%. The business had revenue of $152.90 million during the quarter, compared to analysts’ expectations of $126.50 million. During the same quarter last year, the business posted ($0.32) EPS. The business’s revenue was up 321.2% on a year-over-year basis. sell-side analysts forecast that Nektar Therapeutics will post -0.75 earnings per share for the current year.
Several equities research analysts recently weighed in on NKTR shares. Roth Capital set a $45.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a report on Monday, November 13th. Canaccord Genuity Group increased their target price on Nektar Therapeutics from $35.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, November 15th. Mizuho increased their target price on Nektar Therapeutics from $30.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. Cowen started coverage on Nektar Therapeutics in a report on Tuesday, November 7th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $44.00 target price on shares of Nektar Therapeutics in a report on Monday, November 13th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Nektar Therapeutics presently has a consensus rating of “Buy” and an average price target of $38.08.
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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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