Nektar Therapeutics (NASDAQ:NKTR) Insider Jonathan Zalevsky Sells 186 Shares

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total value of $13,388.28. Following the completion of the transaction, the insider directly owned 9,570 shares in the company, valued at approximately $688,848.60. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Jonathan Zalevsky also recently made the following trade(s):

• On Tuesday, June 30th, Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00.
• 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.

Nektar Therapeutics Trading Down 2.0%

NKTR stock opened at $74.53 on Friday. The firm has a 50 day moving average of $69.34 and a 200-day moving average of $70.33. The company has a market cap of $2.54 billion, a price-to-earnings ratio of -11.12 and a beta of 1.14. Nektar Therapeutics has a 12-month low of $26.45 and a 12-month high of $109.00.

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

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Nektar Therapeutics

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

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.