Nektar Therapeutics (NASDAQ:NKTR) Stock Price Down 6.9% - Time to Sell?

Key Points

• Nektar Therapeutics shares fell by 6.9% to $56.14 during mid-day trading, with trading volume down 78% from its average.
• Analysts have mixed views; B. Riley and HC Wainwright set new price targets of $105.00 and $120.00, maintaining "buy" ratings, while the consensus price target is $91.67.
• In its latest earnings report, Nektar posted a loss of ($2.95) EPS, slightly above analysts' expectations, and generated $11.18 million in revenue, surpassing the forecast of $9.42 million.

Shares of Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) were down 6.9% during mid-day trading on Thursday . The company traded as low as $56.32 and last traded at $56.14. Approximately 198,882 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 908,889 shares. The stock had previously closed at $60.33.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NKTR. B. Riley boosted their price target on Nektar Therapeutics from $85.00 to $105.00 and gave the company a "buy" rating in a research note on Tuesday. HC Wainwright raised their price target on shares of Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, BTIG Research reiterated a "buy" rating and issued a $100.00 price objective on shares of Nektar Therapeutics in a research note on Friday, September 19th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $91.67.

Nektar Therapeutics Stock Performance

The firm's 50 day moving average is $33.03 and its 200-day moving average is $19.87. The company has a market cap of $1.07 billion, a PE ratio of -6.36 and a beta of 1.06.

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

Insider Activity

In related news, CEO Howard W. Robin sold 6,666 shares of the company's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total value of $311,235.54. Following the transaction, the chief executive officer directly owned 49,342 shares in the company, valued at approximately $2,303,777.98. This represents a 11.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jonathan Zalevsky sold 1,721 shares of the firm's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $33.52, for a total value of $57,687.92. Following the sale, the insider directly owned 17,462 shares of the company's stock, valued at $585,326.24. The trade was a 8.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,178 shares of company stock valued at $938,776. 5.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nektar Therapeutics

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC purchased a new position in Nektar Therapeutics during the 4th quarter valued at about $130,000. Acadian Asset Management LLC boosted its stake in shares of Nektar Therapeutics by 1.4% in the first quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company's stock valued at $4,961,000 after purchasing an additional 100,645 shares during the period. Nuveen LLC acquired a new position in shares of Nektar Therapeutics in the first quarter valued at approximately $222,000. Fred Alger Management LLC purchased a new stake in Nektar Therapeutics during the 1st quarter worth approximately $344,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Nektar Therapeutics during the first quarter worth approximately $41,000. 75.88% of the stock is 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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