Nektar Therapeutics (NASDAQ:NKTR) Sees Unusually-High Trading Volume – Time to Buy?

Nektar Therapeutics (NASDAQ:NKTR) shares saw unusually-high trading volume on Monday . Approximately 138,129 shares changed hands during mid-day trading, an increase of 12% from the previous session’s volume of 123,643 shares.The stock last traded at $9.98 and had previously closed at $9.99.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NKTR shares. William Blair reaffirmed a “market perform” rating on shares of Nektar Therapeutics in a research report on Monday, May 12th. Jefferies Financial Group upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $15.00 to $30.00 in a research note on Friday, April 11th. Oppenheimer upgraded shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating and set a $90.00 price objective on the stock in a research report on Friday, March 14th. Wall Street Zen lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 14th. Finally, HC Wainwright reiterated a “buy” rating and issued a $97.50 price objective on shares of Nektar Therapeutics in a research report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.50.

Nektar Therapeutics Stock Performance

The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -13.12 and a beta of 0.55. The business has a fifty day simple moving average of $9.92 and a 200 day simple moving average of $12.33.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share for the quarter, missing the consensus estimate of ($2.70) by ($0.60). The company had revenue of $10.46 million for the quarter, compared to analysts’ expectations of $15.61 million. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. During the same quarter in the previous year, the company earned ($2.70) earnings per share. On average, equities research analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Two Sigma Securities LLC lifted its holdings in shares of Nektar Therapeutics by 56.3% during the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 9,958 shares in the last quarter. Harvest Investment Services LLC acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $27,000. US Asset Management LLC purchased a new stake in shares of Nektar Therapeutics during the 4th quarter valued at about $31,000. Algert Global LLC acquired a new position in Nektar Therapeutics during the 1st quarter worth approximately $33,000. Finally, US Bancorp DE grew its position in Nektar Therapeutics by 257.8% in the first quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 36,085 shares in the last quarter. 75.88% of the stock is owned by institutional investors and hedge funds.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.