Key Points
- Nektar Therapeutics CEO Howard Robin sold 444 shares on May 19 at an average price of $65.51, totaling about $29,086. The company said the sale was made to cover tax withholding obligations tied to vesting equity awards.
- The insider sale was small relative to Robin’s remaining stake: he still owned 75,045 shares, valued at about $4.92 million, and the transaction reduced his position by just 0.59%.
- The company recently reported a wider-than-expected quarterly loss, posting EPS of -$1.82 versus analysts’ estimate of -$1.58, even though revenue of $10.86 million slightly beat expectations. Analysts currently rate NKTR a “Moderate Buy” with an average price target of $149.63.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) insider Jonathan Zalevsky sold 199 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $65.51, for a total transaction of $13,036.49. Following the sale, the insider directly owned 20,975 shares in the company, valued at $1,374,072.25. This represents a 0.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Nektar Therapeutics Stock Performance
Shares of NKTR opened at $68.58 on Friday. The stock has a market capitalization of $2.32 billion, a PE ratio of -8.14 and a beta of 1.24. Nektar Therapeutics has a 1 year low of $7.99 and a 1 year high of $109.00. The company's 50-day simple moving average is $78.11 and its 200-day simple moving average is $61.78.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The business had revenue of $10.86 million for the quarter, compared to analyst estimates of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. On average, sell-side analysts predict that Nektar Therapeutics will post -9.65 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on NKTR. Citigroup increased their price target on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Oppenheimer reissued an "outperform" rating and set a $140.00 price target on shares of Nektar Therapeutics in a research report on Friday, March 13th. B. Riley Financial reaffirmed a "buy" rating and issued a $150.00 target price (up from $105.00) on shares of Nektar Therapeutics in a report on Monday, February 23rd. Wall Street Zen raised shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a report on Sunday, May 17th. Finally, William Blair raised shares of Nektar Therapeutics from a "market perform" rating to an "outperform" rating in a report on Tuesday, February 10th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $149.63.
Check Out Our Latest Stock Analysis on Nektar Therapeutics
Hedge Funds Weigh In On Nektar Therapeutics
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets increased its stake in Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. KBC Group NV purchased a new position in Nektar Therapeutics in the first quarter valued at approximately $52,000. Headlands Technologies LLC purchased a new position in Nektar Therapeutics in the second quarter valued at approximately $65,000. State of Wyoming purchased a new position in Nektar Therapeutics in the first quarter valued at approximately $67,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Nektar Therapeutics in the first quarter valued at approximately $68,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.
Nektar Therapeutics Company Profile
(
Get Free Report)
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.
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