Nektar Therapeutics (NASDAQ:NKTR) Shares Up 7.3% - Here's What Happened

Key Points

• Nektar Therapeutics shares increased by 7.3%, trading at $43.12, with a recent market capitalization of $843.11 million.
• Analysts have varied ratings on Nektar, with six giving a "Buy" rating and price targets ranging from $60 to $120, while the average price target is $88.33.
• In the last quarter, Nektar Therapeutics reported earnings of ($2.95) per share, exceeding estimates, with a revenue of $11.18 million compared to a consensus estimate of $9.42 million.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s share price traded up 7.3% during trading on Monday . The company traded as high as $43.53 and last traded at $43.12. 863,506 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 859,530 shares. The stock had previously closed at $40.18.

Analyst Upgrades and Downgrades

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

Nektar Therapeutics Trading Down 0.8%

The firm has a market capitalization of $890.52 million, a price-to-earnings ratio of -5.28 and a beta of 1.06. The firm has a 50 day moving average price of $27.53 and a two-hundred day moving average price of $17.26.

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

Insider Activity at Nektar Therapeutics

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

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of NKTR. Almitas Capital LLC increased its holdings in 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 purchasing an additional 3,690,647 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Nektar Therapeutics by 187.3% in the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company's stock valued at $4,626,000 after acquiring an additional 3,242,841 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock valued at $2,463,000 after acquiring an additional 2,807,595 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Nektar Therapeutics by 253.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,658,745 shares of the biopharmaceutical company's stock valued at $1,128,000 after acquiring an additional 1,188,976 shares during the last quarter. Finally, Deuterium Capital Management LLC bought a new stake in shares of Nektar Therapeutics in the 1st quarter valued at approximately $381,000. 75.88% of the stock is currently owned by hedge funds and other 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.