Nektar Therapeutics (NASDAQ:NKTR) Insider Jonathan Zalevsky Sells 5,538 Shares

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 5,538 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $60.71, for a total value of $336,211.98. Following the sale, the insider owned 15,437 shares of the company’s stock, valued at $937,180.27. The trade was a 26.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Jonathan Zalevsky also recently made the following trade(s):

• On Tuesday, May 19th, Jonathan Zalevsky sold 199 shares of Nektar Therapeutics stock. The stock was sold at an average price of $65.51, for a total value of $13,036.49.

Nektar Therapeutics Trading Up 1.1%

NASDAQ NKTR traded up $0.65 on Wednesday, hitting $60.92. 676,635 shares of the company’s stock were exchanged, compared to its average volume of 885,212. The stock has a 50-day moving average of $73.67 and a 200-day moving average of $62.18. Nektar Therapeutics has a 52 week low of $8.27 and a 52 week high of $109.00. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -7.24 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. As a group, analysts predict that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Piper Sandler upped 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 reiterated an “outperform” rating and issued a $140.00 price target on shares of Nektar Therapeutics in a research note on Friday, March 13th. Citigroup increased their price target on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. TD Cowen assumed coverage on Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating for the company. Finally, Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.63.

Institutional Trading of Nektar Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farallon Capital Management LLC acquired a new stake in Nektar Therapeutics in the third quarter valued at $45,008,000. Readystate Asset Management LP acquired a new stake in Nektar Therapeutics in the third quarter valued at $2,563,000. Hudson Bay Capital Management LP acquired a new stake in Nektar Therapeutics in the third quarter valued at $6,127,000. Propel Bio Management LLC acquired a new stake in Nektar Therapeutics in the third quarter valued at $2,788,000. Finally, Persistent Asset Partners Ltd acquired a new stake in Nektar Therapeutics in the third quarter valued at $983,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile

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.