Nektar Therapeutics (NASDAQ:NKTR) Insider Sells $397,670.00 in Stock

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider owned 9,756 shares of the company’s stock, valued at approximately $682,920. This represents a 36.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Jonathan Zalevsky also recently made the following trade(s):

• On Monday, June 15th, Jonathan Zalevsky sold 5,538 shares of Nektar Therapeutics stock. The stock was sold at an average price of $60.71, for a total transaction of $336,211.98.
• On Tuesday, May 19th, Jonathan Zalevsky sold 199 shares of Nektar Therapeutics stock. The stock was sold at an average price of $65.51, for a total transaction of $13,036.49.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR opened at $71.04 on Friday. Nektar Therapeutics has a 12-month low of $21.02 and a 12-month high of $109.00. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -8.44 and a beta of 1.13. The firm has a 50 day moving average of $69.16 and a 200 day moving average of $62.83.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its holdings in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 210 shares during the period. KBC Group NV purchased a new stake in shares of Nektar Therapeutics during the first quarter worth about $52,000. Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter worth about $65,000. State of Wyoming bought a new stake in Nektar Therapeutics during the 1st quarter valued at approximately $67,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Nektar Therapeutics during the 1st quarter valued at approximately $68,000. Institutional investors own 75.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NKTR. Piper Sandler lifted their target price on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Citigroup upped their price target on Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. HC Wainwright lifted their price objective on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 20th. TD Cowen initiated coverage on Nektar Therapeutics in a research note on Tuesday, March 17th. They set a “buy” rating for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. Nine 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 has an average rating of “Moderate Buy” and an average target price of $149.62.

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.