Nektar Therapeutics (NASDAQ:NKTR) Insider Jonathan Zalevsky Sells 5,681 Shares

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider owned 9,756 shares in the company, valued at $682,920. This represents a 36.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, June 15th, Jonathan Zalevsky sold 5,538 shares of Nektar Therapeutics stock. The stock was sold at an average price of $60.71, for a total value of $336,211.98.
• On Tuesday, May 19th, Jonathan Zalevsky sold 199 shares of Nektar Therapeutics stock. The shares were sold at an average price of $65.51, for a total value of $13,036.49.

Nektar Therapeutics Trading Up 10.3%

Shares of NKTR stock opened at $71.04 on Friday. Nektar Therapeutics has a 12 month low of $21.02 and a 12 month high of $109.00. The stock has a market cap of $2.40 billion, a PE ratio of -8.44 and a beta of 1.13. The company’s fifty day moving average price is $69.60 and its 200-day moving average price is $62.77.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $10.69 million. On average, sell-side analysts forecast that Nektar Therapeutics will post -9.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NKTR has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a report on Tuesday, June 2nd. HC Wainwright raised their price objective on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Citigroup lifted their price objective on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Wedbush dropped their target price on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Finally, TD Cowen initiated coverage on Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating on the stock. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.62.

Institutional Trading of Nektar Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in Nektar Therapeutics by 336.9% during the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 2,807,595 shares during the period. Farallon Capital Management LLC bought a new stake in Nektar Therapeutics in the 3rd quarter worth approximately $45,008,000. Two Seas Capital LP bought a new stake in Nektar Therapeutics in the 4th quarter worth approximately $31,506,000. Prosight Management LP purchased a new stake in Nektar Therapeutics during the 4th quarter valued at $23,450,000. Finally, Two Sigma Investments LP raised its stake in Nektar Therapeutics by 446.9% during the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock valued at $24,708,000 after buying an additional 354,842 shares during the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

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.