Howard W. Robin Sells 6,666 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Key Points

• Nektar Therapeutics CEO Howard Robin sold 6,666 shares at an average price of $38.53, resulting in a total value of approximately $256,840.98, and now holds 56,008 shares.
• Despite facing challenges, Nektar Therapeutics reported a revenue of $11.18 million for the last quarter, beating analyst estimates by $1.76 million.
• Wall Street analysts generally maintain a positive outlook, with an average rating of "Moderate Buy" and a consensus price target of $88.33 for the stock.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) CEO Howard W. Robin sold 6,666 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $38.53, for a total value of $256,840.98. Following the completion of the transaction, the chief executive officer directly owned 56,008 shares in the company, valued at $2,157,988.24. The trade was a 10.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Nektar Therapeutics Stock Performance

NASDAQ:NKTR traded up $1.48 during mid-day trading on Friday, hitting $48.68. The company had a trading volume of 848,765 shares, compared to its average volume of 1,095,591. Nektar Therapeutics has a fifty-two week low of $6.45 and a fifty-two week high of $50.53. The business's fifty day moving average is $28.01 and its two-hundred day moving average is $17.51. The firm has a market cap of $925.89 million, a P/E ratio of -5.53 and a beta of 1.06.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on NKTR shares. B. Riley raised their price target on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. BTIG Research raised their price target on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, HC Wainwright raised their price target on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Nektar Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $88.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NKTR. Almitas Capital LLC boosted its stake in shares of Nektar Therapeutics by 401.1% during the 1st quarter. Almitas Capital LLC now owns 4,610,872 shares of the biopharmaceutical company's stock worth $3,135,000 after acquiring an additional 3,690,647 shares during the period. Woodline Partners LP boosted 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 during the period. AQR Capital Management LLC boosted its stake in shares of Nektar Therapeutics by 336.9% during the 1st 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 period. Mackenzie Financial Corp lifted its holdings in Nektar Therapeutics by 253.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,658,745 shares of the biopharmaceutical company's stock worth $1,128,000 after purchasing an additional 1,188,976 shares during the last quarter. Finally, Deuterium Capital Management LLC acquired a new stake in Nektar Therapeutics during the 1st quarter worth approximately $381,000. 75.88% of the stock is currently owned by institutional investors.

About Nektar Therapeutics

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.