Nektar Therapeutics (NASDAQ:NKTR) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

Nektar Therapeutics (NASDAQ:NKTR) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $43.51 and traded as high as $43.79. Nektar Therapeutics shares last traded at $41.44, with a volume of 570,997 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NKTR. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, December 17th. BTIG Research boosted their price objective on shares of Nektar Therapeutics from $100.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. B. Riley increased their target price on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Finally, Citigroup assumed coverage on shares of Nektar Therapeutics in a report on Wednesday, November 26th. They set a “buy” rating and a $102.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.83.

Nektar Therapeutics Trading Down 4.8%

The company has a market cap of $842.89 million, a P/E ratio of -5.20 and a beta of 1.31. The company has a 50 day moving average price of $52.92 and a 200-day moving average price of $43.51.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share for the quarter, topping the consensus estimate of ($2.85) by $1.00. The business had revenue of $11.79 million during the quarter, compared to the consensus estimate of $10.20 million. Nektar Therapeutics had a negative return on equity of 456.53% and a negative net margin of 192.87%. Equities analysts expect that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Insider Transactions at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 1,157 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $62,801.96. Following the sale, the insider directly owned 18,971 shares in the company, valued at approximately $1,029,745.88. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 2,207 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total transaction of $119,795.96. Following the sale, the chief executive officer directly owned 54,245 shares in the company, valued at $2,944,418.60. This trade represents a 3.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,994 shares of company stock valued at $216,794. 5.25% of the stock is currently owned by insiders.

Institutional Trading of Nektar Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of Nektar Therapeutics by 336.9% during the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after buying an additional 2,807,595 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Nektar Therapeutics during the 3rd quarter valued at $45,008,000. Fred Alger Management LLC bought a new stake in Nektar Therapeutics during the 1st quarter worth $344,000. Jacobs Levy Equity Management Inc. increased its holdings in Nektar Therapeutics by 14.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,007,928 shares of the biopharmaceutical company’s stock worth $2,045,000 after purchasing an additional 380,967 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Nektar Therapeutics by 446.9% in the third quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock valued at $24,708,000 after purchasing an additional 354,842 shares during the last quarter. Institutional investors own 75.88% of the company’s stock.

About Nektar Therapeutics

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.