Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) Insider Sells 1,721 Shares of Stock

Key Points

• Nektar Therapeutics insider Jonathan Zalevsky sold 1,721 shares at an average price of $33.52, totaling about $57,687.92, which represents an 8.97% decrease in his holdings.
• The company's stock traded up 10.3% on Monday, reaching $44.33, with a market cap of $843.16 million and a P/E ratio of -5.04.
• Nektar Therapeutics recently reported a quarterly earnings loss of ($2.95) per share, but surpassed revenue expectations with earnings of $11.18 million against a consensus estimate of $9.42 million.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) insider Jonathan Zalevsky sold 1,721 shares of Nektar Therapeutics stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $33.52, for a total value of $57,687.92. Following the completion of the transaction, the insider owned 17,462 shares in the company, valued at approximately $585,326.24. This represents a 8.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Jonathan Zalevsky also recently made the following trade(s):

• On Tuesday, September 2nd, Jonathan Zalevsky sold 485 shares of Nektar Therapeutics stock. The stock was sold at an average price of $30.10, for a total value of $14,598.50.
• On Tuesday, August 19th, Jonathan Zalevsky sold 725 shares of Nektar Therapeutics stock. The stock was sold at an average price of $26.59, for a total value of $19,277.75.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR traded up $1.48 during trading hours on Friday, hitting $48.68. The company's stock had a trading volume of 848,765 shares, compared to its average volume of 1,095,591. The stock has a market cap of $925.89 million, a price-to-earnings ratio of -5.53 and a beta of 1.06. Nektar Therapeutics has a 12 month low of $6.45 and a 12 month high of $50.53. The business has a 50-day simple moving average of $28.01 and a 200-day simple moving average of $17.51.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.13) by $0.18. The company had revenue of $11.18 million for the quarter, compared to analysts' expectations of $9.42 million. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%. On average, equities research analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

NKTR has been the topic of a number of research analyst reports. B. Riley upped their target price on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. HC Wainwright upped their target price on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, BTIG Research upped their target price on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

Institutional Trading of Nektar Therapeutics

A number of hedge funds have recently made changes to their positions in NKTR. Wells Fargo & Company MN lifted its position in Nektar Therapeutics by 26.5% in the 4th quarter. Wells Fargo & Company MN now owns 108,975 shares of the biopharmaceutical company's stock valued at $101,000 after acquiring an additional 22,822 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Nektar Therapeutics by 6.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 192,978 shares of the biopharmaceutical company's stock valued at $180,000 after acquiring an additional 10,941 shares in the last quarter. Voya Investment Management LLC lifted its position in Nektar Therapeutics by 200.3% in the 4th quarter. Voya Investment Management LLC now owns 181,679 shares of the biopharmaceutical company's stock valued at $169,000 after acquiring an additional 121,187 shares in the last quarter. Northern Trust Corp lifted its position in Nektar Therapeutics by 0.9% in the 4th quarter. Northern Trust Corp now owns 1,414,984 shares of the biopharmaceutical company's stock valued at $1,316,000 after acquiring an additional 12,826 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Nektar Therapeutics by 32.8% in the 4th quarter. Ameriprise Financial Inc. now owns 373,948 shares of the biopharmaceutical company's stock valued at $348,000 after acquiring an additional 92,346 shares in the last quarter. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.