Nektar Therapeutics (NASDAQ:NKTR) Short Interest Update

by · The Markets Daily

Nektar Therapeutics (NASDAQ:NKTR – Get Free Report) was the recipient of a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 6,040,000 shares, a decline of 17.4% from the September 30th total of 7,310,000 shares. Currently, 3.4% of the company’s shares are sold short. Based on an average daily volume of 1,030,000 shares, the days-to-cover ratio is presently 5.9 days.

Institutional Trading of Nektar Therapeutics

Several institutional investors have recently added to or reduced their stakes in NKTR. Victory Capital Management Inc. acquired a new stake in shares of Nektar Therapeutics during the second quarter worth $29,000. Values First Advisors Inc. acquired a new stake in shares of Nektar Therapeutics during the second quarter worth $56,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of Nektar Therapeutics during the first quarter worth $63,000. SG Americas Securities LLC raised its holdings in shares of Nektar Therapeutics by 63.0% during the second quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after purchasing an additional 28,338 shares during the period. Finally, Candriam S.C.A. acquired a new stake in shares of Nektar Therapeutics during the second quarter worth $99,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, BTIG Research restated a “buy” rating and issued a $4.00 target price on shares of Nektar Therapeutics in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.33.

View Our Latest Stock Report on Nektar Therapeutics

Nektar Therapeutics Trading Up 4.2 %

NKTR traded up $0.06 during trading on Monday, hitting $1.38. 825,775 shares of the company’s stock were exchanged, compared to its average volume of 1,736,726. Nektar Therapeutics has a 1 year low of $0.41 and a 1 year high of $1.93. The stock has a 50 day moving average price of $1.28 and a 200 day moving average price of $1.35. The firm has a market cap of $253.03 million, a P/E ratio of -1.43 and a beta of 0.60.

Nektar Therapeutics (NASDAQ:NKTR – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.04). Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. The business had revenue of $23.49 million for the quarter, compared to analysts’ expectations of $17.24 million. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. Analysts forecast that Nektar Therapeutics will post -0.85 earnings per share for the current fiscal year.

Nektar Therapeutics Company Profile

(Get Free Report)

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.

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