Howard Robin Sells 6,666 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 6,666 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total transaction of $311,235.54. Following the completion of the transaction, the chief executive officer owned 49,342 shares in the company, valued at $2,303,777.98. This represents a 11.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Nektar Therapeutics Stock Performance

Shares of Nektar Therapeutics stock opened at $48.68 on Friday. Nektar Therapeutics has a 52-week low of $6.45 and a 52-week high of $50.53. The stock has a market capitalization of $925.89 million, a price-to-earnings ratio of -5.53 and a beta of 1.06. The company’s 50 day moving average price is $28.01 and its 200-day moving average price is $17.55.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.13) by $0.18. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. The firm had revenue of $11.18 million for the quarter, compared to analysts’ expectations of $9.42 million. As a group, equities research analysts forecast that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NKTR. B. Riley upped their target price on Nektar Therapeutics from $60.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. HC Wainwright upped their target price on Nektar Therapeutics to $120.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Finally, BTIG Research upped their target price on Nektar Therapeutics from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, June 24th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $88.33.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Nektar Therapeutics in the second quarter worth $39,000. Headlands Technologies LLC bought a new position in Nektar Therapeutics in the second quarter worth $65,000. IFP Advisors Inc bought a new position in Nektar Therapeutics in the second quarter worth $124,000. Marshall Wace LLP bought a new position in Nektar Therapeutics in the second quarter worth $367,000. Finally, Gainplan LLC bought a new position in Nektar Therapeutics in the second quarter worth $388,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.