Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) Insider Sells 10,560 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTRGet Rating) insider Jonathan Zalevsky sold 10,560 shares of Nektar Therapeutics stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $4.76, for a total value of $50,265.60. Following the completion of the transaction, the insider now owns 400,839 shares of the company’s stock, valued at approximately $1,907,993.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Nektar Therapeutics Price Performance

NKTR stock traded up $0.04 during trading on Wednesday, hitting $4.72. The stock had a trading volume of 1,438,352 shares, compared to its average volume of 3,338,390. Nektar Therapeutics has a twelve month low of $3.02 and a twelve month high of $19.37. The stock has a market capitalization of $884.55 million, a P/E ratio of -1.67 and a beta of 1.19. The company’s 50-day moving average price is $3.95 and its two-hundred day moving average price is $5.66.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last issued its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.16. The business had revenue of $21.59 million for the quarter, compared to analysts’ expectations of $22.75 million. Nektar Therapeutics had a negative return on equity of 82.40% and a negative net margin of 544.77%. The business’s revenue for the quarter was down 23.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.69) EPS. As a group, sell-side analysts expect that Nektar Therapeutics will post -2.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV boosted its holdings in shares of Nektar Therapeutics by 17.3% during the 4th quarter. KBC Group NV now owns 8,572 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 1,264 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Nektar Therapeutics by 2.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 55,500 shares of the biopharmaceutical company’s stock worth $786,000 after purchasing an additional 1,500 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Nektar Therapeutics by 0.4% during the 4th quarter. Swiss National Bank now owns 404,400 shares of the biopharmaceutical company’s stock worth $5,463,000 after purchasing an additional 1,600 shares during the last quarter. Texas Permanent School Fund boosted its holdings in shares of Nektar Therapeutics by 2.4% during the 2nd quarter. Texas Permanent School Fund now owns 133,943 shares of the biopharmaceutical company’s stock worth $509,000 after purchasing an additional 3,101 shares during the last quarter. Finally, Cetera Advisors LLC boosted its holdings in shares of Nektar Therapeutics by 20.7% during the 1st quarter. Cetera Advisors LLC now owns 18,255 shares of the biopharmaceutical company’s stock worth $98,000 after purchasing an additional 3,125 shares during the last quarter. 93.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NKTR shares. StockNews.com upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 11th. Oppenheimer lowered Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 20th. Finally, JPMorgan Chase & Co. lowered Nektar Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Monday, August 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.17.

About Nektar Therapeutics

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Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

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Insider Buying and Selling by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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