Nektar Therapeutics (NASDAQ:NKTR) Trading 5.8% Higher – Here’s Why

Nektar Therapeutics (NASDAQ:NKTR) traded up 5.8% during mid-day trading on Friday . The company traded as high as $58.49 and last traded at $58.84. 361,661 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 910,356 shares. The stock had previously closed at $55.62.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NKTR. B. Riley upped their target price on Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. BTIG Research reaffirmed a “buy” rating and issued a $100.00 target price on shares of Nektar Therapeutics in a research report on Friday, September 19th. Finally, HC Wainwright boosted their price objective on Nektar Therapeutics to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Nektar Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $91.67.

Nektar Therapeutics Trading Up 5.2%

The company has a market capitalization of $1.11 billion, a P/E ratio of -6.65 and a beta of 1.06. The firm has a fifty day moving average of $34.28 and a 200 day moving average of $20.54.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.13) by $0.18. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%.The business had revenue of $11.18 million for the quarter, compared to the consensus estimate of $9.42 million. Sell-side analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jonathan Zalevsky sold 1,721 shares of Nektar Therapeutics stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $33.52, for a total transaction of $57,687.92. Following the completion of the transaction, the insider owned 17,462 shares of the company’s stock, valued at $585,326.24. The trade was a 8.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Howard W. Robin sold 6,666 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $46.69, for a total transaction of $311,235.54. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 25,178 shares of company stock worth $938,776. Corporate insiders own 5.25% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Algert Global LLC bought a new position in Nektar Therapeutics during the 1st quarter worth approximately $33,000. US Bancorp DE lifted its position in Nektar Therapeutics by 257.8% in the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 36,085 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in Nektar Therapeutics during the 2nd quarter valued at $39,000. Wealth Enhancement Advisory Services LLC purchased a new position in Nektar Therapeutics during the first quarter valued at $41,000. Finally, ProShare Advisors LLC lifted its stake in shares of Nektar Therapeutics by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company’s stock worth $47,000 after buying an additional 16,543 shares in the last quarter. 75.88% of the stock is currently owned by institutional investors and hedge funds.

About Nektar Therapeutics

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.