Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin Sells 6,666 Shares

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 Robin sold 6,666 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $38.53, for a total value of $256,840.98. Following the transaction, the chief executive officer owned 56,008 shares of the company's stock, valued at $2,157,988.24. This trade represents a 10.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Nektar Therapeutics Price Performance

Shares of NASDAQ NKTR traded up $4.15 during midday trading on Monday, reaching $44.33. 1,962,767 shares of the company traded hands, compared to its average volume of 839,362. The company has a market cap of $843.16 million, a price-to-earnings ratio of -5.04 and a beta of 1.05. The stock has a 50-day moving average price of $26.15 and a 200 day moving average price of $16.58. Nektar Therapeutics has a 52 week low of $6.45 and a 52 week high of $44.33.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC acquired a new position in shares of Nektar Therapeutics in the second quarter worth about $39,000. Headlands Technologies LLC purchased a new position in Nektar Therapeutics during the 2nd quarter worth approximately $65,000. IFP Advisors Inc acquired a new stake in Nektar Therapeutics during the 2nd quarter valued at $124,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Nektar Therapeutics by 6.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 192,978 shares of the biopharmaceutical company's stock valued at $180,000 after purchasing an additional 10,941 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Nektar Therapeutics by 0.9% in the fourth quarter. Northern Trust Corp now owns 1,414,984 shares of the biopharmaceutical company's stock valued at $1,316,000 after purchasing an additional 12,826 shares in the last quarter. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.

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