Nektar Therapeutics (NASDAQ:NKTR) Shares Gap Down – Here’s Why

by · The Markets Daily

Nektar Therapeutics (NASDAQ:NKTR – Get Free Report)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $53.30, but opened at $48.68. Nektar Therapeutics shares last traded at $47.0310, with a volume of 2,014,547 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. HC Wainwright lifted their price target on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday. Wall Street Zen lowered Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. B. Riley lifted their target price on Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a research report on Monday. Finally, BTIG Research raised their price target on Nektar Therapeutics from $100.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $111.83.

View Our Latest Report on NKTR

Nektar Therapeutics Stock Up 0.8%

The business’s fifty day moving average price is $57.95 and its 200 day moving average price is $39.96. The firm has a market capitalization of $931.88 million, a PE ratio of -5.84 and a beta of 1.27.

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

Insider Activity

In related news, insider Jonathan Zalevsky sold 1,157 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $62,801.96. Following the completion of the sale, the insider directly owned 18,971 shares of the company’s stock, valued at $1,029,745.88. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Wilson sold 630 shares of the business’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 $34,196.40. Following the completion of the transaction, the insider directly owned 21,585 shares in the company, valued at $1,171,633.80. This represents a 2.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,994 shares of company stock valued at $216,794. Company insiders own 5.25% of the company’s stock.

Institutional Investors Weigh In On Nektar Therapeutics

A number of hedge funds have recently added to or reduced their stakes in NKTR. BNP Paribas Financial Markets increased its position in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 210 shares during the period. Algert Global LLC acquired a new position in Nektar Therapeutics during the first quarter worth $33,000. US Bancorp DE raised its position in Nektar Therapeutics by 257.8% in the first quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 36,085 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Nektar Therapeutics in the second quarter valued at $39,000. Finally, Headlands Technologies LLC acquired a new stake in Nektar Therapeutics in the second quarter valued at $65,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

About Nektar Therapeutics

(Get Free Report)

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.

Recommended Stories