Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) CEO Sells $30,087.64 in Stock

Key Points

• CEO Howard Robin sold 418 shares of Nektar Therapeutics at an average price of $71.98, totaling $30,087.64. The sale covered tax withholding tied to vested equity awards and reduced his direct ownership by 0.76% to 54,627 shares.
• Nektar shares fell 2.0% to $74.53, with the stock trading between a 52-week low of $26.45 and high of $109.00. The company reported a quarterly loss of $1.23 per share, better than analysts’ expected loss of $1.97, while revenue of $10.13 million slightly missed estimates.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $150.00, and institutional investors and hedge funds own 75.88% of the company’s shares.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) CEO Howard Robin sold 418 shares of Nektar Therapeutics stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total value of $30,087.64. Following the sale, the chief executive officer directly owned 54,627 shares of the company's stock, valued at $3,932,051.46. This trade represents a 0.76% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nektar Therapeutics Stock Down 2.0%

NASDAQ:NKTR traded down $1.55 during trading hours on Thursday, reaching $74.53. 438,553 shares of the company's stock were exchanged, compared to its average volume of 658,059. Nektar Therapeutics has a 1-year low of $26.45 and a 1-year high of $109.00. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -11.12 and a beta of 1.14. The company has a 50-day moving average of $69.34 and a 200 day moving average of $70.33.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, topping analysts' consensus estimates of ($1.97) by $0.74. The company had revenue of $10.13 million during the quarter, compared to analysts' expectations of $10.43 million. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%. Research analysts forecast that Nektar Therapeutics will post -8.6 EPS for the current fiscal year.

Analysts Set New Price Targets

NKTR has been the topic of several recent research reports. Wall Street Zen raised shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. Piper Sandler raised their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Wedbush dropped their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a "neutral" rating on the stock in a research note on Monday, May 11th. Finally, Canaccord Genuity Group began coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They set a "buy" rating and a $153.00 price target for the company. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $150.00.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its position 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 worth $2,463,000 after acquiring an additional 2,807,595 shares during the last quarter. Two Seas Capital LP acquired a new stake in shares of Nektar Therapeutics during the 4th quarter worth about $31,506,000. Prosight Management LP purchased a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $23,450,000. Two Sigma Investments LP raised its position in shares of Nektar Therapeutics by 446.9% in the third 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 last quarter. Finally, Armistice Capital LLC grew its stake in Nektar Therapeutics by 122.4% in the 4th quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company's stock worth $25,199,000 after acquiring an additional 328,000 shares during the period. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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