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 stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider owned 9,756 shares in the company, valued at $682,920. The trade was a 36.80% decrease in their position. 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 value 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 Price Performance

NASDAQ:NKTR opened at $71.04 on Friday. Nektar Therapeutics has a twelve month low of $21.02 and a twelve month high of $109.00. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -8.44 and a beta of 1.13. The stock’s 50 day moving average price is $69.16 and its two-hundred day moving average price is $62.83.

Nektar Therapeutics (NASDAQ:NKTR) last released 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 net margin of 284.18% and a negative return on equity of 85.40%. The company had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.69 million. As a group, analysts anticipate that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright increased their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Citigroup raised their target price on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Piper Sandler lifted their price target on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, TD Cowen began coverage on Nektar Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating on the stock. Nine investment 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $149.62.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Nektar Therapeutics by 336.9% in 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 purchasing an additional 2,807,595 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth about $68,000. Rhumbline Advisers lifted its stake in shares of Nektar Therapeutics by 23.3% during the 1st quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 41,948 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth about $367,000. Finally, Headlands Technologies LLC bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth about $65,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

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.