Nektar Therapeutics (NASDAQ:NKTR) CEO Sells $29,086.44 in Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 444 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total transaction of $29,086.44. Following the completion of the transaction, the chief executive officer owned 75,045 shares in the company, valued at $4,916,197.95. This represents a 0.59% 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 hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nektar Therapeutics Stock Down 2.9%

Shares of Nektar Therapeutics stock opened at $66.61 on Friday. The firm has a market capitalization of $2.25 billion, a P/E ratio of -7.91 and a beta of 1.24. Nektar Therapeutics has a 52 week low of $7.99 and a 52 week high of $109.00. The firm’s 50 day moving average is $77.98 and its two-hundred day moving average is $61.81.

Nektar Therapeutics (NASDAQ:NKTR) last announced 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). The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. As a group, research analysts expect that Nektar Therapeutics will post -9.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 210 shares during the last quarter. KBC Group NV purchased a new position in Nektar Therapeutics in the 1st quarter valued at $52,000. Headlands Technologies LLC purchased a new position in Nektar Therapeutics in the 2nd quarter valued at $65,000. State of Wyoming purchased a new position in Nektar Therapeutics in the 1st quarter valued at $67,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Nektar Therapeutics in the 1st quarter valued at $68,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Wedbush lowered 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 report on Monday, May 11th. HC Wainwright raised their target price on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Finally, Oppenheimer restated an “outperform” rating and set a $140.00 target price on shares of Nektar Therapeutics in a research report on Friday, March 13th. Nine equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $149.63.

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.