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

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 444 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were 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 of the company’s stock, valued at approximately $4,916,197.95. This trade represents a 0.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nektar Therapeutics Price Performance

NASDAQ NKTR traded down $0.91 during trading hours on Thursday, reaching $68.58. The company’s stock had a trading volume of 584,846 shares, compared to its average volume of 1,093,003. The firm has a fifty day simple moving average of $78.18 and a 200-day simple moving average of $61.75. The stock has a market cap of $2.32 billion, a P/E ratio of -8.14 and a beta of 1.24. Nektar Therapeutics has a 52 week low of $7.99 and a 52 week high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). The business had revenue of $10.86 million during the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. On average, research analysts expect that Nektar Therapeutics will post -9.65 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on NKTR shares. Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. B. Riley Financial reissued a “buy” rating and set a $150.00 target price (up from $105.00) on shares of Nektar Therapeutics in a research report on Monday, February 23rd. BTIG Research increased their target price on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a research report on Monday, April 20th. William Blair raised shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.63.

Institutional Trading of Nektar Therapeutics

Several large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its position in shares of Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 210 shares during the period. KBC Group NV acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth approximately $52,000. Deutsche Bank AG grew its position in shares of Nektar Therapeutics by 0.8% during the 4th quarter. Deutsche Bank AG now owns 90,743 shares of the biopharmaceutical company’s stock worth $3,837,000 after buying an additional 743 shares during the period. Bayforest Capital Ltd grew its position in shares of Nektar Therapeutics by 51.3% during the 4th quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 862 shares during the period. Finally, State of Wyoming acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth approximately $67,000. 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.