Short Interest in Nektar Therapeutics (NASDAQ:NKTR) Rises By 52.3%

Nektar Therapeutics (NASDAQ:NKTR) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totaling 2,935,715 shares, a growth of 52.3% from the December 15th total of 1,927,352 shares. Based on an average trading volume of 1,283,717 shares, the short-interest ratio is presently 2.3 days. Currently, 15.0% of the company’s stock are sold short. Currently, 15.0% of the company’s stock are sold short. Based on an average trading volume of 1,283,717 shares, the short-interest ratio is presently 2.3 days.

Insiders Place Their Bets

In other news, insider Jonathan Zalevsky sold 1,157 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 18,971 shares of the company’s stock, valued at approximately $1,029,745.88. This represents a 5.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 2,207 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total transaction of $119,795.96. Following the completion of the transaction, the chief executive officer directly owned 54,245 shares of the company’s stock, valued at $2,944,418.60. This represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 3,994 shares of company stock valued at $216,794 in the last quarter. 5.25% of the stock is currently owned by insiders.

Institutional Trading of Nektar Therapeutics

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC raised its stake in Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after acquiring an additional 2,807,595 shares during the period. Vanguard Group Inc. increased its stake in shares of Nektar Therapeutics by 30.0% in the third quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock worth $53,978,000 after purchasing an additional 219,155 shares in the last quarter. Farallon Capital Management LLC bought a new stake in shares of Nektar Therapeutics in the third quarter valued at approximately $45,008,000. Two Sigma Investments LP raised its position in shares of Nektar Therapeutics by 446.9% in the third quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock valued at $24,708,000 after purchasing an additional 354,842 shares during the period. Finally, 22NW LP lifted its stake in shares of Nektar Therapeutics by 126.6% during the 3rd quarter. 22NW LP now owns 331,115 shares of the biopharmaceutical company’s stock valued at $18,840,000 after buying an additional 185,000 shares in the last quarter. 75.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. HC Wainwright lifted their price objective on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Wall Street Zen cut shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. BTIG Research boosted their target price on shares of Nektar Therapeutics from $100.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a research report on Monday, December 29th. Finally, Citigroup began coverage on Nektar Therapeutics in a report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price target for the company. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.83.

Nektar Therapeutics Price Performance

Shares of NASDAQ:NKTR traded up $2.32 during midday trading on Friday, hitting $37.68. 673,894 shares of the company’s stock were exchanged, compared to its average volume of 676,724. Nektar Therapeutics has a 12 month low of $6.45 and a 12 month high of $66.92. The company has a market cap of $766.41 million, a PE ratio of -4.73 and a beta of 1.31. The stock has a 50 day moving average price of $50.48 and a 200-day moving average price of $44.20.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.85) by $1.00. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. The firm had revenue of $11.79 million during the quarter, compared to analyst estimates of $10.20 million. On average, analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

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.