Nektar Therapeutics (NASDAQ:NKTR) Short Interest Down 11.8% in February

Nektar Therapeutics (NASDAQ:NKTRGet Rating) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 8,750,000 shares, a drop of 11.8% from the February 13th total of 9,920,000 shares. Based on an average daily trading volume, of 1,960,000 shares, the days-to-cover ratio is currently 4.5 days.

Insider Buying and Selling

In other news, CFO Jillian B. Thomsen sold 10,267 shares of Nektar Therapeutics stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $3.00, for a total value of $30,801.00. Following the completion of the sale, the chief financial officer now directly owns 313,497 shares of the company’s stock, valued at approximately $940,491. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Nektar Therapeutics news, CFO Jillian B. Thomsen sold 10,267 shares of Nektar Therapeutics stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $3.00, for a total transaction of $30,801.00. Following the transaction, the chief financial officer now directly owns 313,497 shares in the company, valued at $940,491. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jonathan Zalevsky sold 10,484 shares of the business’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $3.00, for a total value of $31,452.00. Following the completion of the sale, the insider now owns 303,179 shares in the company, valued at $909,537. The disclosure for this sale can be found here. Insiders sold 40,386 shares of company stock worth $121,158 in the last 90 days. 3.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds have recently modified their holdings of the company. Xponance Inc. bought a new position in shares of Nektar Therapeutics during the 3rd quarter worth approximately $33,000. Verition Fund Management LLC bought a new stake in shares of Nektar Therapeutics during the 1st quarter worth $55,000. Vantage Consulting Group Inc bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth $41,000. Arete Wealth Advisors LLC bought a new stake in Nektar Therapeutics in the third quarter worth $35,000. Finally, Halbert Hargrove Global Advisors LLC bought a new stake in Nektar Therapeutics in the first quarter worth $61,000. Institutional investors own 92.30% of the company’s stock.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR opened at $1.19 on Monday. Nektar Therapeutics has a fifty-two week low of $1.15 and a fifty-two week high of $11.13. The stock has a market cap of $225.20 million, a price-to-earnings ratio of -0.60 and a beta of 1.10. The firm’s 50-day simple moving average is $2.39 and its 200 day simple moving average is $3.01.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last posted its earnings results on Tuesday, February 28th. The biopharmaceutical company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.43) by $0.11. Nektar Therapeutics had a negative net margin of 399.98% and a negative return on equity of 76.92%. The firm had revenue of $22.02 million for the quarter, compared to analysts’ expectations of $22.21 million. During the same quarter last year, the firm earned ($0.79) EPS. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Nektar Therapeutics will post -0.89 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on NKTR shares. SVB Leerink lowered their price target on Nektar Therapeutics from $5.00 to $3.00 and set a “market perform” rating on the stock in a research report on Friday, February 24th. Oppenheimer decreased their target price on Nektar Therapeutics from $5.00 to $3.00 and set a “market perform” rating on the stock in a research report on Monday, March 6th. Jefferies Financial Group downgraded Nektar Therapeutics from a “hold” rating to an “underperform” rating and decreased their target price for the company from $3.20 to $1.50 in a research report on Friday, February 24th. The Goldman Sachs Group decreased their target price on Nektar Therapeutics from $3.00 to $2.00 and set a “sell” rating on the stock in a research report on Monday, February 27th. Finally, SVB Securities decreased their target price on Nektar Therapeutics from $5.00 to $3.00 in a research report on Friday, February 24th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $4.50.

Nektar Therapeutics Company Profile

(Get Rating)

Nektar Therapeutics is a research-based biopharmaceutical company which engages in discovering and developing medicines in areas of unmet medical need. Its research and development pipeline of new investigational drugs includes therapies for oncology, immunology and virology. The firm focuses on using new chemistry approaches to make medicines to treat cancer and autoimmune diseases.

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