Nektar Therapeutics (NASDAQ:NKTR) Trading Down 7.6% - Time to Sell?

Shares of Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) traded down 7.6% on Wednesday . The company traded as low as $10.48 and last traded at $10.49. 50,623 shares were traded during mid-day trading, a decline of 61% from the average session volume of 130,698 shares. The stock had previously closed at $11.35.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Oppenheimer upgraded Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $90.00 price objective on the stock in a report on Friday, March 14th. HC Wainwright restated a "buy" rating and issued a $97.50 price objective on shares of Nektar Therapeutics in a report on Thursday, March 13th. William Blair restated a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. Jefferies Financial Group upgraded Nektar Therapeutics from a "hold" rating to a "buy" rating and raised their price objective for the company from $15.00 to $30.00 in a report on Friday, April 11th. Finally, Wall Street Zen lowered Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nektar Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $67.50.

Nektar Therapeutics Trading Down 1.9%

The firm has a fifty day moving average price of $9.99 and a 200 day moving average price of $12.18. The firm has a market cap of $106.63 million, a PE ratio of -10.23 and a beta of 0.55.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) EPS for the quarter, missing the consensus estimate of ($2.70) by ($0.60). Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. The company had revenue of $10.46 million for the quarter, compared to analysts' expectations of $15.61 million. During the same quarter in the prior year, the firm earned ($2.70) EPS. As a group, equities analysts predict that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC raised its holdings in shares of Nektar Therapeutics by 56.3% during the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 9,958 shares during the period. Harvest Investment Services LLC acquired a new stake in shares of Nektar Therapeutics during the 4th quarter worth about $27,000. US Asset Management LLC acquired a new stake in shares of Nektar Therapeutics during the 4th quarter worth about $31,000. Algert Global LLC acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth about $33,000. Finally, US Bancorp DE increased its position in shares of Nektar Therapeutics by 257.8% during the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 36,085 shares during the last quarter. Hedge funds and other institutional investors own 75.88% of the company's stock.

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.