Key Points
- CEO Howard Robin sold 10,000 shares of Nektar Therapeutics on June 16 at an average price of $60.32, totaling $603,200. After the sale, he still held 65,045 shares, and the transaction reduced his position by 13.33%.
- Nektar recently reported mixed quarterly results, posting an EPS loss of $1.82 that missed analyst estimates, while revenue of $10.86 million slightly beat expectations. The company also continues to show deep losses, with a negative net margin and negative return on equity.
- Analysts remain generally bullish on NKTR, with nine Buy ratings, one Hold, and one Sell, and a consensus price target of $149.62. Several firms recently raised their targets, including BTIG and Citigroup.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) CEO Howard Robin sold 10,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer directly owned 65,045 shares in the company, valued at $3,923,514.40. The trade was a 13.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Nektar Therapeutics Stock Performance
Nektar Therapeutics stock opened at $60.98 on Friday. Nektar Therapeutics has a fifty-two week low of $8.27 and a fifty-two week high of $109.00. The stock has a market cap of $2.06 billion, a P/E ratio of -7.24 and a beta of 1.13. The firm's fifty day moving average price is $73.36 and its 200-day moving average price is $62.16.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its 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 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%. On average, analysts predict that Nektar Therapeutics will post -9.45 earnings per share for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in NKTR. AQR Capital Management LLC raised its holdings in Nektar Therapeutics by 336.9% during the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock valued at $2,463,000 after buying an additional 2,807,595 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Nektar Therapeutics during the 1st quarter valued at $68,000. Rhumbline Advisers grew its holdings in Nektar Therapeutics by 23.3% in the 1st quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company's stock worth $151,000 after acquiring an additional 41,948 shares during the last quarter. Marshall Wace LLP bought a new stake in Nektar Therapeutics in the 2nd quarter worth $367,000. Finally, Headlands Technologies LLC purchased a new position in shares of Nektar Therapeutics in the second quarter valued at about $65,000. 75.88% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
NKTR has been the subject of a number of research reports. BTIG Research upped their price objective on Nektar Therapeutics from $151.00 to $178.00 and gave the stock a "buy" rating in a report on Monday, April 20th. TD Cowen began coverage on Nektar Therapeutics in a report on Tuesday, March 17th. They set a "buy" rating on the stock. B. Riley Financial reissued a "buy" rating and set a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a report on Monday, February 23rd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Finally, Citigroup increased their price target on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $149.62.
Get Our Latest Report on NKTR
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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