Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin Sells 418 Shares

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 418 shares of Nektar Therapeutics stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total value of $30,087.64. Following the completion of the sale, the chief executive officer directly owned 54,627 shares of the company’s stock, valued at approximately $3,932,051.46. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nektar Therapeutics Stock Performance

NASDAQ NKTR traded down $1.55 during trading hours on Thursday, hitting $74.53. 438,553 shares of the company’s stock were exchanged, compared to its average volume of 658,059. The business’s 50 day moving average is $69.34 and its 200-day moving average is $70.33. Nektar Therapeutics has a 12-month low of $26.45 and a 12-month high of $109.00. The firm has a market capitalization of $2.54 billion, a P/E ratio of -11.12 and a beta of 1.14.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.74. The firm had revenue of $10.13 million for the quarter, compared to analyst estimates of $10.43 million. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%. As a group, equities research analysts anticipate that Nektar Therapeutics will post -8.6 EPS for the current fiscal year.

Institutional Trading of Nektar Therapeutics

Several institutional investors have recently modified their holdings of the company. 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. KBC Group NV acquired a new stake in shares of Nektar Therapeutics during the 1st quarter valued at $52,000. Headlands Technologies LLC acquired a new position in Nektar Therapeutics in the 2nd quarter worth about $65,000. State of Wyoming bought a new stake in Nektar Therapeutics in the first quarter worth approximately $67,000. Finally, Integrated Wealth Concepts LLC bought a new position in Nektar Therapeutics during the first quarter valued at about $68,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Analysts Set New Price Targets

NKTR has been the subject of a number of recent analyst reports. Canaccord Genuity Group initiated coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Tuesday, June 2nd. Piper Sandler upped their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, Wedbush decreased their target price on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Ten research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.00.

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.