Nektar Therapeutics (NASDAQ:NKTR) Trading Down 6.7% – Here’s Why

Nektar Therapeutics (NASDAQ:NKTR) shares traded down 6.7% on Tuesday . The stock traded as low as $36.20 and last traded at $36.1740. 374,857 shares traded hands during trading, a decline of 40% from the average session volume of 623,351 shares. The stock had previously closed at $38.77.

Wall Street Analysts Forecast Growth

Several research firms have commented on NKTR. Citigroup began coverage on shares of Nektar Therapeutics in a report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price objective for the company. BTIG Research boosted their target price on Nektar Therapeutics from $100.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a report on Wednesday, December 17th. B. Riley increased their target price on Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Finally, HC Wainwright raised their target price on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Six 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.83.

Nektar Therapeutics Stock Down 5.6%

The company has a market capitalization of $744.48 million, a P/E ratio of -4.59 and a beta of 1.31. The company has a 50 day simple moving average of $51.99 and a two-hundred day simple moving average of $44.02.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) EPS for the quarter, topping analysts’ consensus estimates of ($2.85) by $1.00. Nektar Therapeutics had a negative return on equity of 456.53% and a negative net margin of 192.87%.The firm had revenue of $11.79 million during the quarter, compared to analysts’ expectations of $10.20 million. As a group, research analysts expect that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, insider Mark Andrew Wilson sold 630 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $34,196.40. Following the completion of the transaction, the insider owned 21,585 shares in the company, valued at $1,171,633.80. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard W. Robin sold 2,207 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $119,795.96. Following the transaction, the chief executive officer directly owned 54,245 shares in the company, valued at approximately $2,944,418.60. This represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,994 shares of company stock worth $216,794. Insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in Nektar Therapeutics by 336.9% in the first 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 period. Integrated Wealth Concepts LLC bought a new position in shares of Nektar Therapeutics in the first quarter worth about $68,000. Rhumbline Advisers increased its stake in Nektar Therapeutics by 23.3% in the 1st quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock worth $151,000 after buying an additional 41,948 shares during the period. Voya Investment Management LLC lifted its holdings in Nektar Therapeutics by 46.8% during the 1st quarter. Voya Investment Management LLC now owns 266,773 shares of the biopharmaceutical company’s stock valued at $181,000 after buying an additional 85,094 shares in the last quarter. Finally, Palumbo Wealth Management LLC bought a new stake in Nektar Therapeutics during the 2nd quarter valued at about $614,000. 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.