Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin Sells 444 Shares

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard Robin sold 444 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total transaction of $29,086.44. Following the completion of the sale, the chief executive officer owned 75,045 shares of the company’s stock, valued at approximately $4,916,197.95. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nektar Therapeutics Price Performance

NKTR opened at $68.58 on Friday. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of -8.14 and a beta of 1.24. The company’s 50 day simple moving average is $78.11 and its two-hundred day simple moving average is $61.78. Nektar Therapeutics has a 1-year low of $7.99 and a 1-year high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. On average, equities analysts anticipate that Nektar Therapeutics will post -9.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nektar Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKTR. BNP Paribas Financial Markets grew its holdings in shares of Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 210 shares during the period. KBC Group NV purchased a new stake in Nektar Therapeutics in the 1st quarter valued at about $52,000. Headlands Technologies LLC acquired a new position in Nektar Therapeutics in the second quarter valued at about $65,000. State of Wyoming acquired a new position in Nektar Therapeutics in the first quarter valued at about $67,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Nektar Therapeutics during the first quarter worth about $68,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on NKTR shares. Piper Sandler raised their target price on Nektar Therapeutics from $105.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Oppenheimer reissued an “outperform” rating and issued a $140.00 price objective on shares of Nektar Therapeutics in a report on Friday, March 13th. Citigroup raised their price objective on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. HC Wainwright lifted their target price on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, TD Cowen started coverage on shares of Nektar Therapeutics in a report on Tuesday, March 17th. They issued a “buy” rating on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nektar Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $149.63.

About Nektar Therapeutics

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.