Investors Sell Nektar Therapeutics (NKTR) on Strength (NKTR)

Traders sold shares of Nektar Therapeutics (NASDAQ:NKTR) on strength during trading on Wednesday. $117.17 million flowed into the stock on the tick-up and $133.71 million flowed out of the stock on the tick-down, for a money net flow of $16.54 million out of the stock. Of all companies tracked, Nektar Therapeutics had the 33rd highest net out-flow for the day. Nektar Therapeutics traded up $0.87 for the day and closed at $68.90

Several brokerages have recently weighed in on NKTR. Canaccord Genuity Group increased their target price on shares of Nektar Therapeutics from $35.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Cowen began coverage on shares of Nektar Therapeutics in a research note on Tuesday, November 7th. They set an “outperform” rating for the company. Canaccord Genuity began coverage on shares of Nektar Therapeutics in a research note on Thursday, November 9th. They set a “buy” rating and a $35.00 target price for the company. Roth Capital set a $45.00 target price on shares of Nektar Therapeutics and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Zacks Investment Research downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Nektar Therapeutics has a consensus rating of “Buy” and an average target price of $38.08.

The stock has a market cap of $11,340.00, a price-to-earnings ratio of -101.41 and a beta of 1.81. The company has a debt-to-equity ratio of 2.91, a current ratio of 4.14 and a quick ratio of 3.99.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.16. The firm had revenue of $152.90 million during the quarter, compared to analysts’ expectations of $126.50 million. Nektar Therapeutics had a net margin of 39.80% and a return on equity of 557.76%. The firm’s revenue for the quarter was up 321.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.32) earnings per share. equities research analysts anticipate that Nektar Therapeutics will post -0.75 EPS for the current fiscal year.

In related news, Director Christopher A. Kuebler sold 30,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $58.66, for a total transaction of $1,759,800.00. Following the completion of the transaction, the director now directly owns 70,500 shares of the company’s stock, valued at $4,135,530. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard W. Robin sold 83,334 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.57, for a total transaction of $1,964,182.38. Following the transaction, the chief executive officer now directly owns 235,838 shares of the company’s stock, valued at $5,558,701.66. The disclosure for this sale can be found here. Insiders have sold 614,017 shares of company stock valued at $20,587,527 over the last three months. 5.44% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of NKTR. Janus Henderson Group PLC purchased a new position in Nektar Therapeutics in the second quarter valued at about $34,661,000. PointState Capital LP increased its holdings in Nektar Therapeutics by 281.7% in the second quarter. PointState Capital LP now owns 1,731,000 shares of the biopharmaceutical company’s stock valued at $33,841,000 after buying an additional 1,277,500 shares in the last quarter. Rubric Capital Management LP purchased a new position in Nektar Therapeutics in the third quarter valued at about $23,924,000. State Street Corp increased its holdings in Nektar Therapeutics by 11.3% in the second quarter. State Street Corp now owns 4,408,270 shares of the biopharmaceutical company’s stock valued at $86,179,000 after buying an additional 447,023 shares in the last quarter. Finally, Numeric Investors LLC increased its holdings in Nektar Therapeutics by 2,111.5% in the second quarter. Numeric Investors LLC now owns 440,729 shares of the biopharmaceutical company’s stock valued at $8,616,000 after buying an additional 420,800 shares in the last quarter. 96.01% of the stock is owned by institutional investors.

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Nektar Therapeutics Company Profile

Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.

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