Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin Sells 5,166 Shares

Key Points

• CEO Howard Robin of Nektar Therapeutics sold 5,166 shares at $33.70 each, reducing his ownership by 7.61% and leaving him with 62,674 shares valued at over $2.1 million.
• Nektar Therapeutics' stock surged 10.3% to $44.33, with a year-high at the same price and volume significantly exceeding its average.
• In its latest earnings report, Nektar Therapeutics beat analyst expectations by reporting ($2.95) EPS on revenue of $11.18 million, resulting in projections of a -0.72 EPS for the current fiscal year.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) CEO Howard Robin sold 5,166 shares of Nektar Therapeutics stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $33.70, for a total value of $174,094.20. Following the completion of the sale, the chief executive officer directly owned 62,674 shares in the company, valued at $2,112,113.80. This trade represents a 7.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Nektar Therapeutics Trading Up 10.3%

Shares of NASDAQ:NKTR traded up $4.15 during mid-day trading on Monday, reaching $44.33. The stock had a trading volume of 1,962,767 shares, compared to its average volume of 839,362. The business's 50 day moving average price is $26.15 and its 200 day moving average price is $16.58. Nektar Therapeutics has a 1 year low of $6.45 and a 1 year high of $44.33. The company has a market cap of $843.16 million, a P/E ratio of -5.04 and a beta of 1.05.

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

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds have recently modified their holdings of the business. Almitas Capital LLC lifted its position in shares of Nektar Therapeutics by 401.1% during the first quarter. Almitas Capital LLC now owns 4,610,872 shares of the biopharmaceutical company's stock valued at $3,135,000 after buying an additional 3,690,647 shares during the last quarter. Woodline Partners LP raised its stake in shares of Nektar Therapeutics by 187.3% during the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company's stock worth $4,626,000 after acquiring an additional 3,242,841 shares in the last quarter. AQR Capital Management LLC lifted 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 valued at $2,463,000 after acquiring an additional 2,807,595 shares during the last quarter. Mackenzie Financial Corp boosted its stake in Nektar Therapeutics by 253.1% in the first quarter. Mackenzie Financial Corp now owns 1,658,745 shares of the biopharmaceutical company's stock valued at $1,128,000 after acquiring an additional 1,188,976 shares in the last quarter. Finally, Deuterium Capital Management LLC purchased a new position in Nektar Therapeutics in the first quarter worth $381,000. Hedge funds and other institutional investors own 75.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NKTR. William Blair reaffirmed a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. BTIG Research increased their price target on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Wall Street Zen lowered Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. B. Riley boosted their price objective on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, HC Wainwright lifted their price target on shares of Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

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.

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