Insider Selling: Nektar Therapeutics (NKTR) CFO Sells $2,934,000.00 in Stock
Nektar Therapeutics (NASDAQ:NKTR) CFO Gil M. Labrucherie sold 120,000 shares of Nektar Therapeutics stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $24.45, for a total value of $2,934,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Nektar Therapeutics (NASDAQ:NKTR) opened at 24.69 on Friday. The company has a 50-day moving average price of $21.47 and a 200 day moving average price of $20.40. Nektar Therapeutics has a 12 month low of $11.41 and a 12 month high of $25.02. The firm’s market cap is $3.86 billion.
Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.04). Nektar Therapeutics had a negative return on equity of 1,223.34% and a negative net margin of 157.14%. The business had revenue of $34.60 million during the quarter, compared to the consensus estimate of $33.64 million. During the same period in the prior year, the business earned ($0.36) EPS. The business’s revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Nektar Therapeutics will post ($0.98) EPS for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Gs Investments Inc. bought a new position in Nektar Therapeutics in the second quarter worth about $1,006,000. Piedmont Investment Advisors LLC lifted its holdings in Nektar Therapeutics by 264.6% in the second quarter. Piedmont Investment Advisors LLC now owns 33,545 shares of the biopharmaceutical company’s stock worth $656,000 after acquiring an additional 24,344 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Nektar Therapeutics by 7.7% in the second quarter. Ameritas Investment Partners Inc. now owns 13,011 shares of the biopharmaceutical company’s stock worth $254,000 after acquiring an additional 929 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Nektar Therapeutics by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 114,357 shares of the biopharmaceutical company’s stock worth $2,235,000 after acquiring an additional 3,683 shares during the last quarter. Finally, Redmile Group LLC bought a new position in Nektar Therapeutics in the second quarter worth about $285,000. 95.08% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on the company. Mizuho assumed coverage on Nektar Therapeutics in a research report on Tuesday, September 26th. They set a “buy” rating and a $30.00 target price on the stock. ValuEngine upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub cut Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $23.00 target price on shares of Nektar Therapeutics in a research report on Friday, August 18th. Finally, Evercore ISI assumed coverage on Nektar Therapeutics in a research report on Thursday, August 17th. They set an “in-line” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $26.80.
About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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