Nektar Therapeutics (NASDAQ:NKTR) Shares Pass Above 200 Day Moving Average - Should You Sell?

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $13.40 and traded as high as $26.35. Nektar Therapeutics shares last traded at $25.00, with a volume of 903,537 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. HC Wainwright upped their price objective on Nektar Therapeutics to $120.00 and gave the company 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 research note on Tuesday, July 8th. William Blair reaffirmed a "market perform" rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. BTIG Research upped their price objective on Nektar Therapeutics from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Wall Street Zen downgraded Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Nektar Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

Nektar Therapeutics Stock Performance

The stock has a market capitalization of $305.04 million, a P/E ratio of -2.56 and a beta of 0.94. The business has a fifty day simple moving average of $16.88 and a 200-day simple moving average of $13.53.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.70) by ($0.60). The business had revenue of $10.46 million for the quarter, compared to the consensus estimate of $15.61 million. Nektar Therapeutics had a negative return on equity of 329.54% and a negative net margin of 152.49%. During the same quarter in the previous year, the company posted ($2.70) earnings per share. On average, sell-side analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Hedge Funds Weigh In On Nektar Therapeutics

A number of large investors have recently modified their holdings of the company. IFP Advisors Inc bought a new position in shares of Nektar Therapeutics in the 2nd quarter worth $124,000. Gainplan LLC bought a new position in shares of Nektar Therapeutics in the 2nd quarter worth $388,000. Palumbo Wealth Management LLC purchased a new stake in Nektar Therapeutics in the 2nd quarter valued at $614,000. Voya Investment Management LLC raised its position in Nektar Therapeutics by 46.8% in the 1st quarter. Voya Investment Management LLC now owns 266,773 shares of the biopharmaceutical company's stock valued at $181,000 after buying an additional 85,094 shares during the last quarter. Finally, Rhumbline Advisers raised its position in Nektar Therapeutics by 23.3% in the 1st quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company's stock valued at $151,000 after buying an additional 41,948 shares during the last quarter. 75.88% of the stock is currently 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.