Nektar Therapeutics (NASDAQ:NKTR) SVP Ivan P. Gergel sold 54,920 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $21.10, for a total value of $1,158,812.00. Following the transaction, the senior vice president now directly owns 98,492 shares of the company’s stock, valued at approximately $2,078,181.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Nektar Therapeutics (NKTR) traded down 5.64% during trading on Thursday, reaching $18.42. The company had a trading volume of 1,527,760 shares. The company’s 50 day moving average is $20.56 and its 200-day moving average is $18.52. Nektar Therapeutics has a 1-year low of $11.41 and a 1-year high of $24.88. The stock’s market capitalization is $2.88 billion.
Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.35) by $0.04. Nektar Therapeutics had a negative net margin of 157.14% and a negative return on equity of 1,223.34%. The business had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $33.64 million. During the same period in the previous year, the company posted ($0.36) earnings per share. Nektar Therapeutics’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Nektar Therapeutics will post ($0.95) earnings per share for the current year.
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A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in Nektar Therapeutics by 180,432.9% in the first quarter. BlackRock Inc. now owns 20,035,546 shares of the biopharmaceutical company’s stock valued at $470,234,000 after buying an additional 20,024,448 shares during the last quarter. Norges Bank acquired a new stake in Nektar Therapeutics during the fourth quarter valued at approximately $31,574,000. Janus Henderson Group PLC acquired a new stake in Nektar Therapeutics during the second quarter valued at approximately $34,661,000. PointState Capital LP raised its stake in Nektar Therapeutics by 281.7% in the second quarter. PointState Capital LP now owns 1,731,000 shares of the biopharmaceutical company’s stock valued at $33,841,000 after buying an additional 1,277,500 shares during the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Nektar Therapeutics during the first quarter valued at approximately $23,580,000. 93.02% of the stock is currently owned by institutional investors.
NKTR has been the topic of several recent research reports. Jefferies Group LLC cut their price target on Nektar Therapeutics from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, May 10th. Aegis restated a “buy” rating and issued a $27.00 price target on shares of Nektar Therapeutics in a research note on Wednesday, May 10th. Roth Capital set a $31.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a research note on Thursday, May 11th. William Blair reiterated an “outperform” rating on shares of Nektar Therapeutics in a research note on Tuesday, July 18th. Finally, BidaskClub upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $26.10.
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.
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