Short Interest in Nektar Therapeutics (NASDAQ:NKTR) Increases By 52.3%

Nektar Therapeutics (NASDAQ:NKTR) saw a significant growth in short interest in December. As of December 31st, there was short interest totaling 2,935,715 shares, a growth of 52.3% from the December 15th total of 1,927,352 shares. Approximately 15.0% of the shares of the stock are short sold. Based on an average daily volume of 1,283,717 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 1,283,717 shares, the days-to-cover ratio is currently 2.3 days. Approximately 15.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

NKTR has been the topic of several recent analyst reports. HC Wainwright increased their price objective on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. 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. Wall Street Zen lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. B. Riley increased their target price on Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, BTIG Research lifted their price target on Nektar Therapeutics from $100.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $111.83.

Nektar Therapeutics Price Performance

NASDAQ NKTR traded up $2.32 during trading hours on Friday, hitting $37.68. 673,894 shares of the company’s stock traded hands, compared to its average volume of 676,724. The company has a market capitalization of $766.41 million, a PE ratio of -4.73 and a beta of 1.31. Nektar Therapeutics has a 52-week low of $6.45 and a 52-week high of $66.92. The firm’s 50-day moving average is $50.48 and its 200-day moving average is $44.06.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.85) by $1.00. The business had revenue of $11.79 million for 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%. Equities research analysts predict that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, insider Mark Andrew Wilson sold 630 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total value of $34,196.40. Following the sale, the insider directly owned 21,585 shares of the company’s stock, valued at approximately $1,171,633.80. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 2,207 shares of the company’s stock in a transaction that occurred on 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. The trade was a 3.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 3,994 shares of company stock valued at $216,794. Company insiders own 5.25% of the company’s stock.

Institutional Trading of Nektar Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC raised its holdings in shares of Nektar Therapeutics by 99.8% during the 4th quarter. FNY Investment Advisers LLC now owns 5,200 shares of the biopharmaceutical company’s stock worth $219,000 after acquiring an additional 2,598 shares during the period. SG Americas Securities LLC acquired a new stake in Nektar Therapeutics during the fourth quarter worth about $463,000. Tudor Investment Corp ET AL purchased a new position in Nektar Therapeutics during the third quarter worth about $309,000. Hudson Bay Capital Management LP acquired a new position in Nektar Therapeutics in the 3rd quarter valued at about $6,127,000. Finally, Armistice Capital LLC boosted its holdings in Nektar Therapeutics by 116.1% in the 3rd quarter. Armistice Capital LLC now owns 268,000 shares of the biopharmaceutical company’s stock valued at $15,249,000 after purchasing an additional 144,000 shares during the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

About Nektar Therapeutics

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.