Jonathan Zalevsky Sells 5,681 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 5,681 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the transaction, the insider owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, June 15th, Jonathan Zalevsky sold 5,538 shares of Nektar Therapeutics stock. The shares were sold at an average price of $60.71, for a total transaction of $336,211.98.
• On Tuesday, May 19th, Jonathan Zalevsky sold 199 shares of Nektar Therapeutics stock. The stock was sold at an average price of $65.51, for a total value of $13,036.49.

Nektar Therapeutics Trading Up 10.3%

NASDAQ NKTR traded up $6.65 during midday trading on Thursday, hitting $71.04. The company had a trading volume of 1,119,058 shares, compared to its average volume of 1,228,223. The firm has a 50-day moving average price of $69.60 and a 200-day moving average price of $62.77. The company has a market capitalization of $2.40 billion, a PE ratio of -8.44 and a beta of 1.13. Nektar Therapeutics has a twelve month low of $21.02 and a twelve month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The company had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. On average, equities analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wall Street Zen raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Oppenheimer reissued an “outperform” rating and set a $140.00 target price on shares of Nektar Therapeutics in a report on Friday, March 13th. Wedbush decreased their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. TD Cowen started coverage on shares of Nektar Therapeutics in a report on Tuesday, March 17th. They set a “buy” rating on the stock. Finally, BTIG Research boosted their price objective on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $149.62.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew 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 valued at $2,463,000 after buying an additional 2,807,595 shares during the last quarter. BVF Inc. IL increased its position in shares of Nektar Therapeutics by 22.2% during the fourth quarter. BVF Inc. IL now owns 1,559,595 shares of the biopharmaceutical company’s stock valued at $65,940,000 after acquiring an additional 283,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Nektar Therapeutics by 30.0% during the 3rd quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock valued at $53,978,000 after purchasing an additional 219,155 shares during the last quarter. Farallon Capital Management LLC bought a new stake in Nektar Therapeutics in the third quarter worth about $45,008,000. Finally, Two Seas Capital LP bought a new position in shares of Nektar Therapeutics during the 4th quarter valued at approximately $31,506,000. 75.88% of the stock is owned by institutional investors and hedge funds.

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.