Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) CFO Sells 25,000 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) CFO Gil M. Labrucherie sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $20.52, for a total value of $513,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Gil M. Labrucherie also recently made the following trade(s):

  • On Friday, August 16th, Gil M. Labrucherie sold 5,063 shares of Nektar Therapeutics stock. The stock was sold at an average price of $18.15, for a total value of $91,893.45.
  • On Wednesday, August 14th, Gil M. Labrucherie sold 25,000 shares of Nektar Therapeutics stock. The stock was sold at an average price of $17.79, for a total value of $444,750.00.
  • On Wednesday, July 10th, Gil M. Labrucherie sold 25,000 shares of Nektar Therapeutics stock. The stock was sold at an average price of $34.57, for a total value of $864,250.00.

Shares of NASDAQ:NKTR traded up $0.96 on Friday, hitting $17.09. 2,509,851 shares of the company traded hands, compared to its average volume of 5,029,829. Nektar Therapeutics has a 52 week low of $15.84 and a 52 week high of $51.28. The company has a quick ratio of 13.97, a current ratio of 14.09 and a debt-to-equity ratio of 0.22. The stock has a 50 day simple moving average of $18.25 and a 200-day simple moving average of $28.44. The company has a market cap of $2.93 billion, a PE ratio of 4.52 and a beta of 2.65.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.17. Nektar Therapeutics had a negative return on equity of 25.25% and a negative net margin of 354.90%. The firm had revenue of $23.32 million during the quarter, compared to the consensus estimate of $26.65 million. During the same period last year, the company earned $5.33 earnings per share. The company’s revenue was down 97.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Nektar Therapeutics will post -2.85 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Invesco Ltd. increased its holdings in Nektar Therapeutics by 1,057.7% in the 2nd quarter. Invesco Ltd. now owns 23,343,019 shares of the biopharmaceutical company’s stock worth $830,544,000 after buying an additional 21,326,731 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in Nektar Therapeutics in the 2nd quarter worth about $33,330,000. First Trust Advisors LP increased its holdings in Nektar Therapeutics by 39.9% in the 2nd quarter. First Trust Advisors LP now owns 3,005,999 shares of the biopharmaceutical company’s stock worth $106,953,000 after buying an additional 856,819 shares in the last quarter. BlackRock Inc. increased its holdings in Nektar Therapeutics by 6.0% in the 2nd quarter. BlackRock Inc. now owns 13,264,987 shares of the biopharmaceutical company’s stock worth $471,969,000 after buying an additional 749,644 shares in the last quarter. Finally, Camber Capital Management LP increased its holdings in Nektar Therapeutics by 25.0% in the 2nd quarter. Camber Capital Management LP now owns 2,500,000 shares of the biopharmaceutical company’s stock worth $88,950,000 after buying an additional 500,000 shares in the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.

A number of analysts recently commented on the company. Goldman Sachs Group lowered Nektar Therapeutics from a “buy” rating to a “sell” rating and dropped their price target for the stock from $54.00 to $16.00 in a research note on Tuesday. Piper Jaffray Companies set a $50.00 price target on Nektar Therapeutics and gave the stock a “buy” rating in a research note on Thursday, September 26th. Zacks Investment Research lowered Nektar Therapeutics from a “buy” rating to a “hold” rating and set a $34.00 price objective for the company. in a research report on Wednesday, July 31st. Evercore ISI reissued a “hold” rating and set a $37.00 price objective on shares of Nektar Therapeutics in a research report on Sunday, August 11th. Finally, TheStreet lowered Nektar Therapeutics from a “c” rating to a “d” rating in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $37.00.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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