Key Points
- Insider sale: Jonathan Zalevsky sold 186 Nektar Therapeutics shares for $13,388.28 to cover tax withholding tied to vested equity awards, reducing his ownership by 1.91% to 9,570 shares.
- Financial performance: Nektar reported a quarterly loss of $1.23 per share, better than analysts’ expected loss of $1.97, while revenue of $10.13 million was slightly below the $10.43 million consensus estimate.
- Analyst outlook: The stock has a “Moderate Buy” consensus rating from analysts, with an average price target of $150, compared with a recent market price of $74.53; institutional investors own 75.88% of the company.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) insider Jonathan Zalevsky sold 186 shares of Nektar Therapeutics stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total value of $13,388.28. Following the sale, the insider directly owned 9,570 shares in the company, valued at approximately $688,848.60. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Jonathan Zalevsky also recently made the following trade(s):
- On Tuesday, June 30th, Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock. The shares were sold at an average price of $70.00, for a total value of $397,670.00.
- On Monday, June 15th, Jonathan Zalevsky sold 5,538 shares of Nektar Therapeutics stock. The shares were sold at an average price of $60.71, for a total transaction of $336,211.98.
Nektar Therapeutics Stock Performance
NASDAQ:NKTR opened at $74.53 on Friday. The stock has a 50-day simple moving average of $69.34 and a 200 day simple moving average of $70.33. Nektar Therapeutics has a one year low of $26.45 and a one year high of $109.00. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -11.12 and a beta of 1.14.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, topping analysts' consensus estimates of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The firm had revenue of $10.13 million during the quarter, compared to the consensus estimate of $10.43 million. On average, equities research analysts forecast that Nektar Therapeutics will post -8.6 EPS for the current fiscal year.
Institutional Investors Weigh In On Nektar Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew 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 worth $2,463,000 after acquiring an additional 2,807,595 shares during the last quarter. Two Seas Capital LP bought a new position in Nektar Therapeutics in the fourth quarter worth approximately $31,506,000. Prosight Management LP acquired a new position in shares of Nektar Therapeutics during the fourth quarter valued at about $23,450,000. Two Sigma Investments LP boosted its position in shares of Nektar Therapeutics by 446.9% during the third quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company's stock valued at $24,708,000 after buying an additional 354,842 shares during the last quarter. Finally, Armistice Capital LLC grew its position in Nektar Therapeutics by 122.4% in the 4th quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company's stock worth $25,199,000 after purchasing an additional 328,000 shares in the last quarter. Institutional investors own 75.88% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Piper Sandler increased their price target on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. Canaccord Genuity Group started coverage on shares of Nektar Therapeutics in a research note on Wednesday, July 22nd. They issued a "buy" rating and a $153.00 price objective for the company. Wall Street Zen raised Nektar Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. Finally, Wedbush decreased their target price on Nektar Therapeutics from $95.00 to $80.00 and set a "neutral" rating for the company in a research report on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $150.00.
Read Our Latest Research 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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