Nektar Therapeutics (NASDAQ:NKTR) Shares Down 6.5% – Here’s What Happened

by · The Cerbat Gem

Shares of Nektar Therapeutics (NASDAQ:NKTR – Get Free Report) dropped 6.5% during trading on Wednesday . The stock traded as low as $46.05 and last traded at $45.9740. Approximately 1,252,003 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 892,606 shares. The stock had previously closed at $49.16.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday. HC Wainwright increased their target price on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday. B. Riley upped their price target on Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Wall Street Zen downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $111.83.

Read Our Latest Stock Analysis on Nektar Therapeutics

Nektar Therapeutics Stock Performance

The stock has a market cap of $952.73 million, a P/E ratio of -5.88 and a beta of 1.27. The firm has a 50 day moving average of $57.72 and a two-hundred day moving average of $39.99.

Nektar Therapeutics (NASDAQ:NKTR – Get Free Report) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) EPS for the quarter, topping analysts’ consensus estimates of ($2.85) by $1.00. Nektar Therapeutics had a negative return on equity of 456.53% and a negative net margin of 192.87%.The company had revenue of $11.79 million during the quarter, compared to analyst estimates of $10.20 million. On average, sell-side analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 2,207 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $119,795.96. Following the completion of the sale, the chief executive officer directly owned 54,245 shares of the company’s stock, valued at $2,944,418.60. This represents a 3.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Wilson sold 630 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders sold a total of 3,994 shares of company stock worth $216,794 in the last ninety days. 5.25% of the stock is currently owned by insiders.

Institutional Trading of Nektar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 210 shares during the period. Algert Global LLC acquired a new position in shares of Nektar Therapeutics in the 1st quarter worth approximately $33,000. US Bancorp DE lifted its position in shares of Nektar Therapeutics by 257.8% during the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company’s stock worth $34,000 after buying an additional 36,085 shares during the period. FNY Investment Advisers LLC bought a new stake in Nektar Therapeutics during the second quarter worth about $39,000. Finally, Headlands Technologies LLC bought a new stake in Nektar Therapeutics during the second quarter worth about $65,000. Institutional investors own 75.88% of the company’s stock.

About Nektar Therapeutics

(Get Free Report)

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.

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