Howard Robin Sells 444 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 444 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was 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 approximately $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 SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nektar Therapeutics Stock Performance

Shares of NKTR stock opened at $66.61 on Friday. The firm’s 50 day moving average price is $77.98 and its 200-day moving average price is $61.81. Nektar Therapeutics has a one year low of $7.99 and a one year high of $109.00. The firm has a market cap of $2.25 billion, a P/E ratio of -7.91 and a beta of 1.24.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $10.69 million. As a group, research analysts predict that Nektar Therapeutics will post -9.65 EPS for the current fiscal year.

Institutional Investors Weigh In On Nektar Therapeutics

Large investors have recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $13,269,000. Farallon Capital Management LLC purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $45,008,000. Emerald Advisers LLC purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $18,393,000. Readystate Asset Management LP purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $2,563,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at approximately $6,127,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NKTR shares. Citigroup upped their target price on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. HC Wainwright upped their target price on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Piper Sandler upped their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.