Nektar Therapeutics (NASDAQ:NKTR – Get Rating) Director Karin Eastham sold 21,267 shares of the business's stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $3.61, for a total value of $76,773.87. Following the transaction, the director now owns 13,033 shares in the company, valued at $47,049.13. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Nektar Therapeutics Price Performance
Nektar Therapeutics stock remained flat at $3.55 during trading hours on Wednesday. The company's stock had a trading volume of 1,488,381 shares, compared to its average volume of 3,152,324. The firm's 50-day moving average price is $4.15 and its 200 day moving average price is $4.76. The firm has a market capitalization of $665.29 million, a PE ratio of -1.25 and a beta of 1.16. Nektar Therapeutics has a twelve month low of $3.02 and a twelve month high of $19.37.
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Nektar Therapeutics (NASDAQ:NKTR – Get Rating) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.85) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.16. Nektar Therapeutics had a negative return on equity of 82.40% and a negative net margin of 544.77%. The firm had revenue of $21.59 million for the quarter, compared to analyst estimates of $22.75 million. During the same period last year, the company earned ($0.69) earnings per share. Nektar Therapeutics's revenue for the quarter was down 23.8% compared to the same quarter last year. Sell-side analysts expect that Nektar Therapeutics will post -2.14 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on NKTR. StockNews.com upgraded Nektar Therapeutics from a "sell" rating to a "hold" rating in a research note on Thursday, August 11th. JPMorgan Chase & Co. downgraded Nektar Therapeutics from a "neutral" rating to an "underweight" rating in a research note on Monday, August 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $13.17.
Hedge Funds Weigh In On Nektar Therapeutics
Several institutional investors have recently made changes to their positions in NKTR. State Street Corp increased its holdings in shares of Nektar Therapeutics by 50.5% during the 2nd quarter. State Street Corp now owns 8,728,968 shares of the biopharmaceutical company's stock valued at $33,170,000 after purchasing an additional 2,928,666 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Nektar Therapeutics by 3.4% during the 4th quarter. Invesco Ltd. now owns 36,891,494 shares of the biopharmaceutical company's stock valued at $498,405,000 after purchasing an additional 1,220,307 shares in the last quarter. Woodline Partners LP purchased a new position in shares of Nektar Therapeutics during the 4th quarter valued at approximately $13,329,000. First Trust Advisors LP increased its holdings in shares of Nektar Therapeutics by 28.4% during the 1st quarter. First Trust Advisors LP now owns 4,390,618 shares of the biopharmaceutical company's stock valued at $23,665,000 after purchasing an additional 970,889 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Nektar Therapeutics by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 19,430,385 shares of the biopharmaceutical company's stock valued at $104,729,000 after purchasing an additional 918,474 shares in the last quarter. 96.99% of the stock is owned by hedge funds and other institutional investors.
About Nektar Therapeutics
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Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.
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