Nektar Therapeutics (NASDAQ:NKTR) Stock Price Up 7.7% – Here’s Why

Nektar Therapeutics (NASDAQ:NKTR) shares were up 7.7% on Tuesday . The stock traded as high as $70.74 and last traded at $70.4290. 484,115 shares were traded during mid-day trading, a decline of 56% from the average session volume of 1,104,051 shares. The stock had previously closed at $65.39.

Analyst Ratings Changes

A number of brokerages have recently commented on NKTR. Wedbush lowered their price objective 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. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Piper Sandler upped their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. 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. Finally, Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Nine investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $149.62.

Nektar Therapeutics Trading Up 8.6%

The firm has a market cap of $2.40 billion, a PE ratio of -8.43 and a beta of 1.14. The stock’s 50 day moving average price is $71.16 and its 200 day moving average price is $62.48.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (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 analyst estimates of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. Analysts forecast that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Insider Activity

In other Nektar Therapeutics news, CEO Howard W. Robin sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares in the company, valued at $3,923,514.40. This represents a 13.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 5,538 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $60.71, for a total transaction of $336,211.98. Following the completion of the sale, the insider directly owned 15,437 shares of the company’s stock, valued at $937,180.27. This trade represents a 26.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 16,181 shares of company stock worth $981,535. Company insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets increased its stake in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 210 shares during the period. KBC Group NV acquired a new position in Nektar Therapeutics in the 1st quarter worth $52,000. State of Wyoming purchased a new position in Nektar Therapeutics in the 1st quarter valued at about $67,000. Quarry LP acquired a new stake in shares of Nektar Therapeutics during the fourth quarter valued at about $85,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Nektar Therapeutics during the fourth quarter valued at about $92,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

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.