Key Points
- Insider sale: Nektar Therapeutics insider Jonathan Zalevsky sold 5,681 shares at $70.00 each, totaling about $397,670. After the trade, he still held 9,756 shares, a 36.8% reduction in his position.
- Stock performance and valuation: NKTR was up 10.3% and opened at $71.04, trading near its 50-day moving average of $69.60 and above its 200-day average of $62.77. The stock has ranged from $21.02 to $109.00 over the past year.
- Analyst outlook: Wall Street remains broadly positive, with nine Buy ratings, one Hold, and one Sell. The consensus price target is $149.62, even though the company recently reported a quarterly EPS miss.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) insider Jonathan Zalevsky sold 5,681 shares of the 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 completion of the transaction, the insider directly owned 9,756 shares in the company, valued at approximately $682,920. This represents a 36.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
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 value of $336,211.98.
- On Tuesday, May 19th, Jonathan Zalevsky sold 199 shares of Nektar Therapeutics stock. The shares were sold at an average price of $65.51, for a total value of $13,036.49.
Nektar Therapeutics Stock Up 10.3%
NASDAQ NKTR opened at $71.04 on Friday. Nektar Therapeutics has a 52 week low of $21.02 and a 52 week high of $109.00. The firm has a market capitalization of $2.40 billion, a P/E ratio of -8.44 and a beta of 1.13. The company has a 50-day moving average price of $69.60 and a 200-day moving average price of $62.77.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The business had revenue of $10.86 million during the quarter, compared to analysts' expectations of $10.69 million. As a group, equities research analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on NKTR shares. Citigroup upped their price objective on Nektar Therapeutics from $123.00 to $151.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. HC Wainwright lifted their target price on Nektar Therapeutics from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, April 20th. BTIG Research boosted their price target on Nektar Therapeutics from $151.00 to $178.00 and gave the company a "buy" rating in a report on Monday, April 20th. Piper Sandler upped their price target on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $140.00 price objective on shares of Nektar Therapeutics in a research note on Friday, March 13th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $149.62.
Check Out Our Latest Stock Analysis on NKTR
Institutional Trading of Nektar Therapeutics
A number of hedge funds and other institutional investors have recently modified their holdings of NKTR. BNP Paribas Financial Markets raised its position in shares of Nektar Therapeutics by 93.8% during the 3rd 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 period. KBC Group NV bought a new position in Nektar Therapeutics in the 1st quarter worth $52,000. Headlands Technologies LLC purchased a new stake in Nektar Therapeutics in the 2nd quarter worth $65,000. State of Wyoming purchased a new stake in Nektar Therapeutics in the 1st quarter worth $67,000. Finally, Integrated Wealth Concepts LLC bought a new stake in Nektar Therapeutics during the first quarter valued at about $68,000. 75.88% of the stock is 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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