Insider Selling: Nektar Therapeutics (NKTR) Director Sells 6,400 Shares of Stock
Nektar Therapeutics (NASDAQ:NKTR) Director Robert Chess sold 6,400 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $21.72, for a total transaction of $139,008.00. Following the transaction, the director now owns 274,223 shares in the company, valued at $5,956,123.56. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.04). The company had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $33.64 million. Nektar Therapeutics had a negative net margin of 157.14% and a negative return on equity of 1,223.34%. Nektar Therapeutics’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted ($0.36) earnings per share.
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Several equities analysts recently commented on NKTR shares. BidaskClub upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. HC Wainwright started coverage on shares of Nektar Therapeutics in a report on Monday, August 7th. They set a “buy” rating and a $31.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Nektar Therapeutics in a report on Monday, June 26th. Jefferies Group LLC reiterated a “buy” rating and set a $23.00 price target on shares of Nektar Therapeutics in a report on Friday, August 18th. Finally, ValuEngine upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $26.10.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Nektar Therapeutics by 0.9% in the 2nd quarter. BlackRock Inc. now owns 20,221,479 shares of the biopharmaceutical company’s stock valued at $395,330,000 after acquiring an additional 185,933 shares during the period. Vanguard Group Inc. raised its stake in shares of Nektar Therapeutics by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 14,009,894 shares of the biopharmaceutical company’s stock valued at $273,893,000 after acquiring an additional 401,914 shares during the period. State Street Corp raised its stake in shares of Nektar Therapeutics by 11.3% in the 2nd quarter. State Street Corp now owns 4,408,270 shares of the biopharmaceutical company’s stock valued at $86,179,000 after acquiring an additional 447,023 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Nektar Therapeutics by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,138,632 shares of the biopharmaceutical company’s stock valued at $41,812,000 after acquiring an additional 12,730 shares during the period. Finally, FMR LLC raised its stake in shares of Nektar Therapeutics by 42.4% in the 1st quarter. FMR LLC now owns 1,947,644 shares of the biopharmaceutical company’s stock valued at $45,711,000 after acquiring an additional 580,341 shares during the period. 95.08% of the stock is currently owned by institutional investors and hedge funds.
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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