Nektar Therapeutics (NASDAQ:NKTR) Stock Price Down 7.5% – Should You Sell?

Nektar Therapeutics (NASDAQ:NKTR)’s stock price was down 7.5% on Monday . The stock traded as low as $59.95 and last traded at $60.3450. 330,560 shares were traded during trading, a decline of 63% from the average session volume of 888,445 shares. The stock had previously closed at $65.21.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NKTR. Wall Street Zen lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. B. Riley boosted their target price on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Citigroup started coverage on shares of Nektar Therapeutics in a research note on Wednesday, November 26th. They issued a “buy” rating and a $102.00 price target on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nektar Therapeutics in a research note on Tuesday, November 25th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $121.00 price objective (up previously from $99.00) on shares of Nektar Therapeutics in a report on Monday, November 24th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $106.33.

Nektar Therapeutics Stock Performance

The firm’s fifty day simple moving average is $58.91 and its 200 day simple moving average is $36.07. The stock has a market capitalization of $1.24 billion, a P/E ratio of -6.95 and a beta of 1.19.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.85) by $1.00. The company had revenue of $11.79 million during the quarter, compared to the consensus estimate of $10.20 million. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. Analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 1,157 shares of Nektar Therapeutics stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total value of $62,801.96. Following the transaction, the insider owned 18,971 shares in the company, valued at approximately $1,029,745.88. This trade represents a 5.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 2,207 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total value of $119,795.96. Following the transaction, the chief executive officer directly owned 54,245 shares of the company’s stock, valued at approximately $2,944,418.60. The trade was a 3.91% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,198 shares of company stock valued at $1,076,491. 5.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Nektar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Almitas Capital LLC increased its holdings in shares of Nektar Therapeutics by 401.1% during the first quarter. Almitas Capital LLC now owns 4,610,872 shares of the biopharmaceutical company’s stock worth $3,135,000 after buying an additional 3,690,647 shares in the last quarter. AQR Capital Management LLC grew its position in Nektar Therapeutics by 336.9% during the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after acquiring an additional 2,807,595 shares during the last quarter. Mackenzie Financial Corp increased its holdings in Nektar Therapeutics by 253.1% in the 1st quarter. Mackenzie Financial Corp now owns 1,658,745 shares of the biopharmaceutical company’s stock worth $1,128,000 after purchasing an additional 1,188,976 shares in the last quarter. Farallon Capital Management LLC bought a new position in Nektar Therapeutics in the third quarter valued at about $45,008,000. Finally, Ieq Capital LLC boosted its stake in shares of Nektar Therapeutics by 2,435.4% during the first quarter. Ieq Capital LLC now owns 557,222 shares of the biopharmaceutical company’s stock valued at $379,000 after purchasing an additional 535,244 shares in the last quarter. Institutional investors own 75.88% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.