Nektar Therapeutics (NKTR) Stock Price Down 6.2%
Nektar Therapeutics (NASDAQ:NKTR) dropped 6.2% on Tuesday . The stock traded as low as $37.79 and last traded at $38.00. Approximately 2,746,889 shares changed hands during trading, a decline of 11% from the average daily volume of 3,099,401 shares. The stock had previously closed at $40.53.
NKTR has been the topic of several analyst reports. HC Wainwright set a $54.00 price target on Nektar Therapeutics and gave the company a “hold” rating in a research report on Monday, October 22nd. BidaskClub cut Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Mizuho restated a “buy” rating and issued a $103.00 price objective on shares of Nektar Therapeutics in a research report on Thursday, August 9th. Zacks Investment Research cut shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Finally, ValuEngine cut shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $84.56.
The company has a market capitalization of $6.99 billion, a PE ratio of -69.09 and a beta of 2.81. The company has a quick ratio of 13.80, a current ratio of 13.93 and a debt-to-equity ratio of 0.14.
In other news, CFO Gil M. Labrucherie sold 6,515 shares of the stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $38.25, for a total transaction of $249,198.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Robert Ajer sold 6,750 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $56.76, for a total value of $383,130.00. Following the sale, the director now directly owns 15,750 shares of the company’s stock, valued at approximately $893,970. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,113 shares of company stock valued at $1,774,015. 4.31% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $123,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter valued at approximately $142,000. Sterling Investment Advisors Ltd. purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $183,000. Gabelli Funds LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $213,000. Finally, Laurion Capital Management LP purchased a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $219,000. 91.15% of the stock is owned by hedge funds and other institutional investors.
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Nektar Therapeutics Company Profile (NASDAQ:NKTR)
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
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