Nektar Therapeutics (NASDAQ:NKTR) Stock Price Up 5.2% – Time to Buy?

Nektar Therapeutics (NASDAQ:NKTR) shares shot up 5.2% during mid-day trading on Tuesday . The company traded as high as $75.87 and last traded at $76.9510. Approximately 175,376 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,112,312 shares. The stock had previously closed at $73.15.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NKTR. Citigroup lifted their price target on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Piper Sandler raised their price objective on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, May 17th. Finally, Oppenheimer reissued an “outperform” rating and issued a $140.00 price target on shares of Nektar Therapeutics in a research report on Friday, March 13th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.62.

Nektar Therapeutics Price Performance

The company has a fifty day moving average of $68.79 and a 200-day moving average of $63.06. The firm has a market capitalization of $2.58 billion, a PE ratio of -9.07 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. Equities analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current year.

Insider Activity at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total transaction of $603,200.00. Following the transaction, the chief executive officer owned 65,045 shares of the company’s stock, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 5,681 shares of the business’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 completion of the sale, the insider directly owned 9,756 shares of the company’s stock, valued at $682,920. This represents a 36.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 21,862 shares of company stock valued at $1,379,205. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC increased its stake in Nektar Therapeutics by 336.9% during 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 acquiring an additional 2,807,595 shares during the period. Farallon Capital Management LLC acquired a new position in Nektar Therapeutics during the 3rd quarter worth about $45,008,000. Two Seas Capital LP acquired a new position in shares of Nektar Therapeutics during the fourth quarter worth approximately $31,506,000. Prosight Management LP acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at approximately $23,450,000. Finally, Two Sigma Investments LP increased its stake in shares of Nektar Therapeutics by 446.9% in the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock valued at $24,708,000 after buying an additional 354,842 shares during the period. Institutional investors 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.