Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin Sells 10,000 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares in the company, valued at approximately $3,923,514.40. The trade was a 13.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nektar Therapeutics Stock Up 0.1%

NKTR traded up $0.06 during trading on Thursday, reaching $60.98. 909,592 shares of the stock traded hands, compared to its average volume of 881,840. The stock’s 50-day moving average is $73.36 and its 200 day moving average is $62.16. Nektar Therapeutics has a 12 month low of $8.27 and a 12 month high of $109.00. The stock has a market capitalization of $2.06 billion, a PE ratio of -7.24 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The business had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. As a group, equities research analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NKTR. AQR Capital Management LLC boosted its holdings in Nektar Therapeutics by 336.9% in the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after acquiring an additional 2,807,595 shares in the last quarter. BVF Inc. IL raised its position in shares of Nektar Therapeutics by 22.2% during the fourth quarter. BVF Inc. IL now owns 1,559,595 shares of the biopharmaceutical company’s stock worth $65,940,000 after purchasing an additional 283,000 shares during the period. Vanguard Group Inc. raised its position in shares of Nektar Therapeutics by 30.0% during the third quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock worth $53,978,000 after purchasing an additional 219,155 shares during the period. Farallon Capital Management LLC bought a new position in shares of Nektar Therapeutics in the 3rd quarter worth $45,008,000. Finally, Two Seas Capital LP bought a new position in shares of Nektar Therapeutics in the 4th quarter worth $31,506,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. B. Riley Financial reissued a “buy” rating and issued a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. TD Cowen initiated coverage on shares of Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating for the company. Piper Sandler boosted their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Wedbush cut their target price on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Nektar Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $149.62.

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.