Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) Director Sells 3,665 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) Director Myriam Curet sold 3,665 shares of the firm’s stock in a transaction on Wednesday, September 22nd. The shares were sold at an average price of $17.78, for a total transaction of $65,163.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NKTR stock opened at $18.51 on Friday. Nektar Therapeutics has a 1 year low of $12.92 and a 1 year high of $26.75. The stock has a market cap of $3.40 billion, a PE ratio of -7.04 and a beta of 1.46. The business’s fifty day moving average is $15.66 and its 200-day moving average is $17.70.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Thursday, August 5th. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.03. The business had revenue of $28.33 million during the quarter, compared to analyst estimates of $26.42 million. Nektar Therapeutics had a negative return on equity of 45.74% and a negative net margin of 449.67%. As a group, sell-side analysts predict that Nektar Therapeutics will post -3.02 EPS for the current year.

A number of brokerages have recently weighed in on NKTR. Zacks Investment Research upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, August 4th. Bank of America began coverage on Nektar Therapeutics in a research report on Friday, September 10th. They set a “neutral” rating and a $18.00 price target on the stock. SVB Leerink lowered their target price on Nektar Therapeutics from $20.00 to $19.00 and set a “market perform” rating on the stock in a research report on Friday, August 6th. Finally, Stifel Nicolaus upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $22.00 to $24.00 in a research report on Monday, June 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Nektar Therapeutics has an average rating of “Buy” and an average target price of $20.80.

Several institutional investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in Nektar Therapeutics by 537.0% during the first quarter. Ameriprise Financial Inc. now owns 1,966,238 shares of the biopharmaceutical company’s stock valued at $39,325,000 after buying an additional 1,657,578 shares during the period. Duquesne Family Office LLC acquired a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $20,000,000. Dimensional Fund Advisors LP increased its holdings in shares of Nektar Therapeutics by 69.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,609,632 shares of the biopharmaceutical company’s stock valued at $27,623,000 after purchasing an additional 657,701 shares during the period. BlackRock Inc. increased its holdings in shares of Nektar Therapeutics by 3.5% in the 1st quarter. BlackRock Inc. now owns 19,027,136 shares of the biopharmaceutical company’s stock valued at $380,543,000 after purchasing an additional 649,056 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Nektar Therapeutics by 434.2% in the 2nd quarter. Millennium Management LLC now owns 576,389 shares of the biopharmaceutical company’s stock valued at $9,891,000 after purchasing an additional 468,486 shares during the period. 90.59% of the stock is owned by institutional investors and hedge funds.

About Nektar Therapeutics

Nektar Therapeutics is a research-based biopharmaceutical company that focuses on discovering and developing medicines in areas of unmet medical need. Its research and development pipeline of new investigational drugs includes therapies for oncology, immunology and virology. The firm focuses on using new chemistry approaches to make medicines to treat cancer and auto-immune disease.

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Insider Buying and Selling by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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