Nektar Therapeutics (NASDAQ:NKTR) Insider Sells $336,211.98 in Stock

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 5,538 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $60.71, for a total value of $336,211.98. Following the sale, the insider owned 15,437 shares of the company’s stock, valued at $937,180.27. This trade represents a 26.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Jonathan Zalevsky also recently made the following trade(s):

• On Tuesday, May 19th, Jonathan Zalevsky sold 199 shares of Nektar Therapeutics stock. The shares were sold at an average price of $65.51, for a total value of $13,036.49.

Nektar Therapeutics Price Performance

NKTR opened at $60.98 on Friday. The firm has a market capitalization of $2.06 billion, a PE ratio of -7.24 and a beta of 1.13. The business’s 50-day moving average is $73.08 and its two-hundred day moving average is $62.15. Nektar Therapeutics has a 1 year low of $8.27 and a 1 year high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. The firm had revenue of $10.86 million for the quarter, compared to analysts’ expectations of $10.69 million. As a group, sell-side analysts expect that Nektar Therapeutics will post -9.45 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on NKTR shares. Wedbush cut their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. HC Wainwright increased their price objective on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, April 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. B. Riley Financial restated a “buy” rating and set a $150.00 target price (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Finally, Citigroup upped their target price on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nektar Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.62.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NKTR. AQR Capital Management LLC raised its holdings in shares of Nektar Therapeutics by 336.9% during the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after purchasing an additional 2,807,595 shares during the last quarter. Farallon Capital Management LLC purchased a new position in shares of Nektar Therapeutics during the 3rd quarter valued at approximately $45,008,000. Two Seas Capital LP acquired a new position in shares of Nektar Therapeutics in the 4th quarter valued at $31,506,000. Prosight Management LP acquired a new position in shares of Nektar Therapeutics in the 4th quarter valued at $23,450,000. Finally, Two Sigma Investments LP boosted its holdings in Nektar Therapeutics by 446.9% during the third quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock worth $24,708,000 after buying an additional 354,842 shares in the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

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.