Nektar Therapeutics (NASDAQ:NKTR) CEO Sells $603,200.00 in Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 10,000 shares of Nektar Therapeutics stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares of the company’s stock, valued at approximately $3,923,514.40. This represents a 13.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Nektar Therapeutics Price Performance

Shares of NKTR stock opened at $60.98 on Friday. The company has a market cap of $2.06 billion, a PE ratio of -7.24 and a beta of 1.13. Nektar Therapeutics has a 1 year low of $8.27 and a 1 year high of $109.00. The stock’s 50 day simple moving average is $73.08 and its two-hundred day simple moving average is $62.15.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. Equities research analysts expect that Nektar Therapeutics will post -9.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Cowen began coverage on shares of Nektar Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating on the stock. Wedbush lowered their target price on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Oppenheimer reaffirmed an “outperform” rating and set a $140.00 price target on shares of Nektar Therapeutics in a research note on Friday, March 13th. HC Wainwright upped their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.62.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of Nektar Therapeutics by 336.9% in the first 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. Farallon Capital Management LLC bought a new position in Nektar Therapeutics in the third quarter worth approximately $45,008,000. Two Seas Capital LP purchased a new position in Nektar Therapeutics during the 4th quarter worth $31,506,000. Prosight Management LP purchased a new position in Nektar Therapeutics during the 4th quarter worth $23,450,000. Finally, Two Sigma Investments LP raised its position 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 valued at $24,708,000 after purchasing an additional 354,842 shares in 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.