Nektar Therapeutics (NASDAQ:NKTR) Stock Price Down 9.6% - What's Next?

Key Points

• Nektar Therapeutics shares fell 9.6% to about $60.43, with trading volume roughly 14% above average. The stock remains below its 50-day and 200-day moving averages, both near $72.
• Analyst sentiment is broadly positive but mixed: the stock has an overall “Moderate Buy” rating and an average price target of $141.50, despite ratings ranging from “Strong Buy” to “Sell.”
• Nektar beat quarterly EPS expectations, reporting a loss of $1.23 per share versus the expected $1.97 loss, but revenue slightly missed forecasts and the company continues to post substantial losses. Insiders sold about 6,285 shares worth $441,146 during the latest quarter.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report)'s share price was down 9.6% during trading on Tuesday . The company traded as low as $61.74 and last traded at $60.4340. Approximately 1,153,889 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 1,008,141 shares. The stock had previously closed at $66.84.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NKTR. TD Cowen raised Nektar Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. BTIG Research restated a "buy" rating and issued a $178.00 price objective on shares of Nektar Therapeutics in a research note on Wednesday, September 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Friday, August 28th. Canaccord Genuity Group initiated coverage on shares of Nektar Therapeutics in a research report on Wednesday, July 22nd. They set a "buy" rating and a $153.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Nektar Therapeutics in a research report on Friday, August 21st. They issued a "neutral" rating and a $65.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $141.50.

Nektar Therapeutics Trading Down 8.2%

The stock has a market capitalization of $2.10 billion, a P/E ratio of -9.15 and a beta of 1.14. The company has a fifty day simple moving average of $71.71 and a two-hundred day simple moving average of $72.02.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The company had revenue of $10.13 million during the quarter, compared to analysts' expectations of $10.43 million. As a group, analysts forecast that Nektar Therapeutics will post -8.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 5,681 shares of the company's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the sale, the insider owned 9,756 shares in the company, valued at $682,920. This represents a 36.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard Robin sold 418 shares of Nektar Therapeutics stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total value of $30,087.64. Following the transaction, the chief executive officer owned 54,627 shares in the company, valued at approximately $3,932,051.46. This represents a 0.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 6,285 shares of company stock worth $441,146. Company insiders own 2.50% of the company's stock.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds have recently made changes to their positions in the business. KBC Group NV acquired a new stake in Nektar Therapeutics during the first quarter worth approximately $52,000. FNY Investment Advisers LLC raised its stake in Nektar Therapeutics by 15.8% during the 2nd quarter. FNY Investment Advisers LLC now owns 5,500 shares of the biopharmaceutical company's stock worth $383,000 after buying an additional 750 shares during the period. State of Wyoming bought a new position in Nektar Therapeutics in the first quarter worth approximately $67,000. Arizona State Retirement System boosted its holdings in Nektar Therapeutics by 27.3% in the second quarter. Arizona State Retirement System now owns 8,477 shares of the biopharmaceutical company's stock worth $592,000 after acquiring an additional 1,816 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in Nektar Therapeutics by 32.5% in the first quarter. Janus Henderson Group PLC now owns 10,729 shares of the biopharmaceutical company's stock valued at $771,000 after acquiring an additional 2,629 shares during the period. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that harness the body's immune system to treat cancer and autoimmune and inflammatory diseases. The company's research is centered on cytokine biology, immune-cell regulation and its proprietary polymer-conjugation technologies, which are designed to modify therapeutic compounds and potentially improve their duration, delivery or tolerability.

Nektar's pipeline has included investigational therapies such as rezpegaldesleukin, an immune-modulating treatment being studied for autoimmune and inflammatory conditions.

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