Nektar Therapeutics (NKTR) Director Lutz Lingnau Sells 30,000 Shares

Nektar Therapeutics (NASDAQ:NKTR) Director Lutz Lingnau sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $20.76, for a total value of $622,800.00. Following the completion of the sale, the director now owns 53,450 shares of the company’s stock, valued at approximately $1,109,622. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Nektar Therapeutics (NASDAQ NKTR) opened at 21.60 on Wednesday. The stock’s market capitalization is $3.35 billion. Nektar Therapeutics has a 1-year low of $11.41 and a 1-year high of $24.88. The stock’s 50 day moving average price is $19.50 and its 200 day moving average price is $17.40.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by $0.02. The company had revenue of $24.73 million during the quarter, compared to the consensus estimate of $29.43 million. Nektar Therapeutics had a negative net margin of 150.74% and a negative return on equity of 3,072.86%. Nektar Therapeutics’s revenue for the quarter was down 58.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.14) earnings per share. On average, equities research analysts predict that Nektar Therapeutics will post ($1.17) earnings per share for the current fiscal year.

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Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $979,000. GSA Capital Partners LLP acquired a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $308,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Nektar Therapeutics by 9.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 101,124 shares of the biopharmaceutical company’s stock worth $1,241,000 after buying an additional 8,935 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Nektar Therapeutics by 16.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 82,150 shares of the biopharmaceutical company’s stock worth $1,008,000 after buying an additional 11,770 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $31,574,000. 93.85% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on NKTR. Jefferies Group LLC set a $25.00 target price on Nektar Therapeutics and gave the stock a “buy” rating in a research report on Saturday, April 22nd. William Blair restated an “outperform” rating on shares of Nektar Therapeutics in a research report on Tuesday. Aegis boosted their target price on Nektar Therapeutics from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. BidaskClub upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $29.00 target price on shares of Nektar Therapeutics in a research report on Tuesday, April 11th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $25.25.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.