Nektar Therapeutics (NKTR) Shares Down 8.8%

Nektar Therapeutics (NASDAQ:NKTR) fell 8.8% during mid-day trading on Tuesday . The stock traded as low as $41.39 and last traded at $42.26. 4,079,686 shares traded hands during mid-day trading, an increase of 118% from the average session volume of 1,869,103 shares. The stock had previously closed at $46.35.

NKTR has been the subject of a number of recent research reports. BidaskClub downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, October 24th. ValuEngine downgraded shares of Nektar Therapeutics from a “sell” rating to a “strong sell” rating in a report on Friday, December 21st. Zacks Investment Research downgraded shares of Nektar Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, December 10th. TheStreet downgraded shares of Nektar Therapeutics from a “c” rating to a “d+” rating in a report on Wednesday, November 7th. Finally, Goldman Sachs Group started coverage on shares of Nektar Therapeutics in a report on Thursday, December 13th. They set a “buy” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $79.90.

The firm has a market cap of $7.37 billion, a PE ratio of -77.49 and a beta of 3.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.80 and a current ratio of 13.93.

In other Nektar Therapeutics news, CEO Howard W. Robin sold 15,326 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $38.25, for a total value of $586,219.50. Following the sale, the chief executive officer now owns 249,141 shares of the company’s stock, valued at $9,529,643.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gil M. Labrucherie sold 6,515 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $38.25, for a total transaction of $249,198.75. The disclosure for this sale can be found here. Insiders sold 115,482 shares of company stock worth $4,768,122 in the last ninety days. Insiders own 4.31% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Retirement Systems of Alabama boosted its holdings in shares of Nektar Therapeutics by 27.4% in the fourth quarter. Retirement Systems of Alabama now owns 226,947 shares of the biopharmaceutical company’s stock worth $7,460,000 after buying an additional 48,859 shares during the period. BlackRock Inc. increased its position in Nektar Therapeutics by 3.7% during the 3rd quarter. BlackRock Inc. now owns 13,121,756 shares of the biopharmaceutical company’s stock worth $799,902,000 after buying an additional 463,152 shares during the period. First Trust Advisors LP increased its position in Nektar Therapeutics by 176.2% during the 3rd quarter. First Trust Advisors LP now owns 2,068,900 shares of the biopharmaceutical company’s stock worth $126,120,000 after buying an additional 1,319,776 shares during the period. Rhenman & Partners Asset Management AB increased its position in Nektar Therapeutics by 68.6% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 515,000 shares of the biopharmaceutical company’s stock worth $16,928,000 after buying an additional 209,607 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Nektar Therapeutics by 26.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 9,670 shares of the biopharmaceutical company’s stock worth $589,000 after buying an additional 2,037 shares during the period. 91.26% of the stock is currently owned by institutional investors.

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Nektar Therapeutics Company Profile (NASDAQ:NKTR)

Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.

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