Nektar Therapeutics (NASDAQ:NKTR) Stock Price Down 6.7% – What’s Next?

Nektar Therapeutics (NASDAQ:NKTR)’s share price dropped 6.7% during mid-day trading on Tuesday . The company traded as low as $36.20 and last traded at $36.1740. Approximately 374,857 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 623,351 shares. The stock had previously closed at $38.77.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NKTR shares. B. Riley raised their price objective on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. HC Wainwright raised their price target on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. BTIG Research boosted their price objective on shares of Nektar Therapeutics from $100.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, December 17th. Finally, Wall Street Zen downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Nektar Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.83.

Nektar Therapeutics Price Performance

The stock’s 50-day moving average is $51.99 and its two-hundred day moving average is $44.02. The company has a market cap of $744.48 million, a P/E ratio of -4.59 and a beta of 1.31.

Nektar Therapeutics (NASDAQ:NKTR) last announced its 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. The business had revenue of $11.79 million during the quarter, compared to analyst estimates of $10.20 million. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. On average, analysts predict that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 2,207 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total value of $119,795.96. Following the transaction, the chief executive officer directly owned 54,245 shares of the company’s stock, valued at approximately $2,944,418.60. This trade represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Andrew Wilson sold 630 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total transaction of $34,196.40. Following the sale, the insider directly owned 21,585 shares of the company’s stock, valued at $1,171,633.80. The trade was a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 3,994 shares of company stock valued at $216,794. 3.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds have recently modified their holdings of the company. Gainplan LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter worth about $388,000. Simplify Asset Management Inc. boosted its stake in Nektar Therapeutics by 67.6% in the 3rd quarter. Simplify Asset Management Inc. now owns 87,174 shares of the biopharmaceutical company’s stock worth $4,960,000 after purchasing an additional 35,176 shares during the period. Moody Aldrich Partners LLC grew its holdings in Nektar Therapeutics by 62.3% during the 3rd quarter. Moody Aldrich Partners LLC now owns 73,716 shares of the biopharmaceutical company’s stock valued at $4,194,000 after buying an additional 28,304 shares in the last quarter. Stonepine Capital Management LLC purchased a new stake in Nektar Therapeutics during the 2nd quarter valued at approximately $1,297,000. Finally, Palumbo Wealth Management LLC bought a new stake in shares of Nektar Therapeutics during the second quarter valued at approximately $614,000. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Company Profile

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.