Nektar Therapeutics (NASDAQ:NKTR) Trading Down 6.5% – Time to Sell?

Nektar Therapeutics (NASDAQ:NKTR) traded down 6.5% during trading on Wednesday . The stock traded as low as $46.05 and last traded at $45.9740. 1,252,003 shares traded hands during mid-day trading, an increase of 40% from the average session volume of 892,606 shares. The stock had previously closed at $49.16.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Citigroup assumed coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They issued a “buy” rating and a $102.00 price target on the stock. B. Riley boosted their price target on Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Wall Street Zen cut Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. BTIG Research raised their price target on Nektar Therapeutics from $100.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.83.

Nektar Therapeutics Price Performance

The business has a fifty day moving average of $58.18 and a 200-day moving average of $39.92. The stock has a market capitalization of $922.00 million, a price-to-earnings ratio of -5.69 and a beta of 1.27.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.85) by $1.00. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. The company had revenue of $11.79 million during the quarter, compared to the consensus estimate of $10.20 million. As a group, research analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Buying and Selling

In other Nektar Therapeutics news, CEO Howard W. Robin sold 2,207 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $119,795.96. Following the transaction, the chief executive officer owned 54,245 shares in the company, valued at approximately $2,944,418.60. The trade was a 3.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Wilson sold 630 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $34,196.40. Following the completion of the transaction, the insider directly owned 21,585 shares in the company, valued at $1,171,633.80. This represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 3,994 shares of company stock worth $216,794. Corporate insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 210 shares in the last quarter. Algert Global LLC purchased a new stake in Nektar Therapeutics during the first quarter valued at about $33,000. US Bancorp DE boosted its holdings in shares of Nektar Therapeutics by 257.8% in the first 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 period. FNY Investment Advisers LLC purchased a new position in shares of Nektar Therapeutics in the second quarter worth approximately $39,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Nektar Therapeutics during the second quarter valued at approximately $65,000. Institutional investors and hedge funds 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.