Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin Sells 418 Shares

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 418 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total transaction of $30,087.64. Following the completion of the transaction, the chief executive officer directly owned 54,627 shares of the company’s stock, valued at $3,932,051.46. The trade was a 0.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nektar Therapeutics Stock Down 2.0%

Shares of Nektar Therapeutics stock opened at $74.53 on Friday. The firm has a market cap of $2.54 billion, a PE ratio of -11.12 and a beta of 1.14. The business’s fifty day moving average is $69.34 and its two-hundred day moving average is $70.33. Nektar Therapeutics has a fifty-two week low of $26.45 and a fifty-two week high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.74. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%.The firm had revenue of $10.13 million for the quarter, compared to analyst estimates of $10.43 million. Equities research analysts anticipate that Nektar Therapeutics will post -8.6 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NKTR shares. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Piper Sandler upped their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Canaccord Genuity Group started coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Tuesday, June 2nd. Finally, 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 note on Monday, May 11th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $150.00.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NKTR. Orbimed Advisors LLC acquired a new stake in shares of Nektar Therapeutics during the first quarter valued at approximately $19,786,000. Swiss National Bank lifted its holdings in shares of Nektar Therapeutics by 50.2% in the first quarter. Swiss National Bank now owns 47,900 shares of the biopharmaceutical company’s stock valued at $3,446,000 after purchasing an additional 16,000 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Nektar Therapeutics by 97.5% during the first quarter. California State Teachers Retirement System now owns 28,682 shares of the biopharmaceutical company’s stock valued at $2,064,000 after buying an additional 14,162 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in Nektar Therapeutics by 144.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 26,545 shares of the biopharmaceutical company’s stock valued at $1,910,000 after buying an additional 15,683 shares during the period. Finally, Monashee Investment Management LLC purchased a new stake in Nektar Therapeutics in the 4th quarter worth about $3,980,000. 75.88% of the stock is currently owned by institutional investors.

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.