Nektar Therapeutics (NASDAQ:NKTR) SVP Sells $1,158,812.00 in Stock

Nektar Therapeutics (NASDAQ:NKTR) SVP Ivan P. Gergel sold 54,920 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $21.10, for a total value of $1,158,812.00. Following the transaction, the senior vice president now directly owns 98,492 shares in the company, valued at approximately $2,078,181.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Nektar Therapeutics (NKTR) opened at 22.24 on Friday. The company’s market capitalization is $3.45 billion. The firm has a 50 day moving average price of $19.64 and a 200 day moving average price of $17.47. Nektar Therapeutics has a one year low of $11.41 and a one year high of $24.88.

Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.02. Nektar Therapeutics had a negative return on equity of 3,072.86% and a negative net margin of 150.74%. The company had revenue of $24.73 million for the quarter, compared to analyst estimates of $29.43 million. During the same period in the previous year, the firm posted ($0.14) earnings per share. The firm’s quarterly revenue was down 58.0% compared to the same quarter last year. On average, equities research analysts predict that Nektar Therapeutics will post ($1.17) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the company. Flinton Capital Management LLC raised its position in Nektar Therapeutics by 11.1% in the first quarter. Flinton Capital Management LLC now owns 4,480 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 448 shares during the period. LS Investment Advisors LLC raised its position in Nektar Therapeutics by 8.8% in the second quarter. LS Investment Advisors LLC now owns 6,594 shares of the biopharmaceutical company’s stock valued at $129,000 after buying an additional 535 shares during the period. Meadow Creek Investment Management LLC raised its position in Nektar Therapeutics by 11.1% in the first quarter. Meadow Creek Investment Management LLC now owns 6,160 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 616 shares during the period. Glen Harbor Capital Management LLC raised its position in Nektar Therapeutics by 11.1% in the first quarter. Glen Harbor Capital Management LLC now owns 7,840 shares of the biopharmaceutical company’s stock valued at $184,000 after buying an additional 784 shares during the period. Finally, Bank of Montreal Can raised its position in Nektar Therapeutics by 21.8% in the first quarter. Bank of Montreal Can now owns 8,195 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 1,464 shares during the period. 93.85% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on NKTR. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price objective on shares of Nektar Therapeutics in a report on Friday. Aegis upped their price objective on Nektar Therapeutics from $24.00 to $27.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $29.00 price objective on shares of Nektar Therapeutics in a report on Tuesday, April 11th. William Blair reiterated an “outperform” rating on shares of Nektar Therapeutics in a report on Tuesday. Finally, BidaskClub upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Nektar Therapeutics currently has a consensus rating of “Buy” and an average price target of $26.29.

About Nektar Therapeutics

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.

Insider Buying and Selling by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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