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

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 186 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total transaction of $13,388.28. Following the sale, the insider directly owned 9,570 shares in the company, valued at $688,848.60. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $336,211.98.

Nektar Therapeutics Trading Down 2.0%

Shares of Nektar Therapeutics stock traded down $1.55 during trading hours on Thursday, reaching $74.53. The stock had a trading volume of 438,553 shares, compared to its average volume of 658,059. The stock’s 50 day moving average is $69.34 and its 200 day moving average is $70.33. The firm has a market capitalization of $2.54 billion, a PE ratio of -11.12 and a beta of 1.14. Nektar Therapeutics has a twelve month low of $26.45 and a twelve month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The business had revenue of $10.13 million for the quarter, compared to analyst estimates of $10.43 million. As a group, sell-side analysts predict that Nektar Therapeutics will post -8.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler raised their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. Wedbush reduced their price objective on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Finally, Canaccord Genuity Group initiated coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They set a “buy” rating and a $153.00 price objective on the stock. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $150.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKTR. AQR Capital Management LLC boosted its stake in Nektar Therapeutics by 336.9% during the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after purchasing an additional 2,807,595 shares during the last quarter. Two Seas Capital LP acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $31,506,000. Prosight Management LP acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $23,450,000. Two Sigma Investments LP lifted its stake in shares of Nektar Therapeutics by 446.9% in the third quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock worth $24,708,000 after buying an additional 354,842 shares in the last quarter. Finally, Armistice Capital LLC lifted its stake in shares of Nektar Therapeutics by 122.4% in the fourth quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company’s stock worth $25,199,000 after buying an additional 328,000 shares in the last quarter. Hedge funds and other institutional investors 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.