Karin Eastham Sells 21,267 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTRGet Rating) Director Karin Eastham sold 21,267 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $3.61, for a total transaction of $76,773.87. Following the completion of the sale, the director now owns 13,033 shares in the company, valued at approximately $47,049.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Nektar Therapeutics Stock Performance

NASDAQ NKTR opened at $3.66 on Friday. The business has a 50 day simple moving average of $4.13 and a 200 day simple moving average of $4.70. Nektar Therapeutics has a 52-week low of $3.02 and a 52-week high of $19.37. The stock has a market cap of $685.90 million, a price-to-earnings ratio of -1.29 and a beta of 1.16.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.16. Nektar Therapeutics had a negative return on equity of 82.40% and a negative net margin of 544.77%. The business had revenue of $21.59 million during the quarter, compared to analysts’ expectations of $22.75 million. During the same period in the prior year, the business earned ($0.69) EPS. Nektar Therapeutics’s revenue for the quarter was down 23.8% compared to the same quarter last year. On average, analysts predict that Nektar Therapeutics will post -2.14 EPS for the current year.

Institutional Trading of Nektar Therapeutics

A number of large investors have recently bought and sold shares of the business. Invesco Ltd. increased its stake in Nektar Therapeutics by 0.9% during the 1st quarter. Invesco Ltd. now owns 37,230,534 shares of the biopharmaceutical company’s stock worth $200,672,000 after purchasing an additional 339,040 shares in the last quarter. Vanguard Group Inc. boosted its position in Nektar Therapeutics by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 19,430,385 shares of the biopharmaceutical company’s stock worth $104,729,000 after acquiring an additional 918,474 shares during the last quarter. State Street Corp boosted its position in Nektar Therapeutics by 50.5% during the 2nd quarter. State Street Corp now owns 8,728,968 shares of the biopharmaceutical company’s stock worth $33,170,000 after acquiring an additional 2,928,666 shares during the last quarter. Bellevue Group AG boosted its position in Nektar Therapeutics by 8.0% during the 1st quarter. Bellevue Group AG now owns 4,808,401 shares of the biopharmaceutical company’s stock worth $25,917,000 after acquiring an additional 356,708 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Nektar Therapeutics by 28.4% during the 1st quarter. First Trust Advisors LP now owns 4,390,618 shares of the biopharmaceutical company’s stock worth $23,665,000 after acquiring an additional 970,889 shares during the last quarter. 96.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on NKTR shares. StockNews.com upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. downgraded shares of Nektar Therapeutics from a “neutral” rating to an “underweight” rating in a research report on Monday, August 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Nektar Therapeutics has a consensus rating of “Hold” and an average price target 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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