Nektar Therapeutics (NASDAQ:NKTR) Shares Gap Down to $3.47

Nektar Therapeutics (NASDAQ:NKTRGet Rating) gapped down before the market opened on Tuesday . The stock had previously closed at $3.47, but opened at $3.40. Nektar Therapeutics shares last traded at $3.62, with a volume of 32,060 shares traded.

A number of equities analysts have weighed in on NKTR shares. Canaccord Genuity Group decreased their price target on shares of Nektar Therapeutics from $25.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 16th. Stifel Nicolaus downgraded Nektar Therapeutics from a “buy” rating to a “hold” rating and lowered their price target for the company from $24.00 to $5.00 in a research report on Monday, March 14th. Canaccord Genuity Group cut their price target on shares of Nektar Therapeutics from $25.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, March 16th. Oppenheimer lowered Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 20th. Finally, William Blair cut shares of Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Monday, March 14th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.17.

The business’s 50 day moving average is $4.05 and its 200-day moving average is $8.18.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last issued its earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.23. Nektar Therapeutics had a negative return on equity of 65.64% and a negative net margin of 476.58%. The business had revenue of $24.82 million during the quarter, compared to analyst estimates of $24.89 million. During the same period in the prior year, the company posted ($0.68) earnings per share. Nektar Therapeutics’s revenue was up 5.0% on a year-over-year basis. Equities research analysts expect that Nektar Therapeutics will post -2.31 EPS for the current year.

In other news, CFO Gil M. Labrucherie sold 17,448 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $3.95, for a total transaction of $68,919.60. Following the completion of the transaction, the chief financial officer now directly owns 312,905 shares of the company’s stock, valued at $1,235,974.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Zalevsky sold 21,673 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $3.95, for a total transaction of $85,608.35. Following the transaction, the insider now owns 276,399 shares of the company’s stock, valued at $1,091,776.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,627 shares of company stock worth $334,277. Company insiders own 2.91% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. New York State Teachers Retirement System boosted its holdings in Nektar Therapeutics by 20.9% in the 4th quarter. New York State Teachers Retirement System now owns 271,100 shares of the biopharmaceutical company’s stock valued at $3,663,000 after purchasing an additional 46,868 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Nektar Therapeutics by 90.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 89,300 shares of the biopharmaceutical company’s stock worth $1,206,000 after buying an additional 42,400 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Nektar Therapeutics by 18.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 238,019 shares of the biopharmaceutical company’s stock worth $3,216,000 after purchasing an additional 36,578 shares in the last quarter. Franklin Resources Inc. bought a new position in Nektar Therapeutics in the third quarter valued at about $215,000. Finally, Herold Advisors Inc. grew its holdings in shares of Nektar Therapeutics by 20.1% during the fourth quarter. Herold Advisors Inc. now owns 18,500 shares of the biopharmaceutical company’s stock worth $249,000 after purchasing an additional 3,100 shares during the last quarter. 93.08% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile (NASDAQ:NKTR)

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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