Nektar Therapeutics (NASDAQ:NKTR) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Nektar Therapeutics (NASDAQ:NKTR) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $43.51 and traded as high as $43.79. Nektar Therapeutics shares last traded at $41.44, with a volume of 570,997 shares changing hands.

Analysts Set New Price Targets

NKTR has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nektar Therapeutics in a research report on Monday, December 29th. HC Wainwright boosted their target price on Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Citigroup assumed coverage on Nektar Therapeutics in a research report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price target for the company. B. Riley lifted their price objective on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.83.

Nektar Therapeutics Trading Down 4.8%

The firm has a market capitalization of $842.89 million, a price-to-earnings ratio of -5.20 and a beta of 1.31. The company’s 50 day moving average is $52.92 and its 200-day moving average is $43.51.

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

Insider Activity at Nektar Therapeutics

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NKTR. Acadian Asset Management LLC boosted its holdings in shares of Nektar Therapeutics by 1.4% during the first quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company’s stock worth $4,961,000 after acquiring an additional 100,645 shares during the period. Gainplan LLC bought a new position in shares of Nektar Therapeutics during the second quarter worth approximately $388,000. Fred Alger Management LLC bought a new position in shares of Nektar Therapeutics during the first quarter worth approximately $344,000. Simplify Asset Management Inc. lifted its holdings in Nektar Therapeutics by 67.6% during the 3rd quarter. Simplify Asset Management Inc. now owns 87,174 shares of the biopharmaceutical company’s stock worth $4,960,000 after purchasing an additional 35,176 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Nektar Therapeutics by 14.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 3,007,928 shares of the biopharmaceutical company’s stock worth $2,045,000 after purchasing an additional 380,967 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

About Nektar Therapeutics

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.