Nektar Therapeutics (NASDAQ:NKTR) shares dropped 5.2% during trading on Wednesday . The stock traded as low as $32.17 and last traded at $32.61. Approximately 2,221,576 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 1,860,162 shares. The stock had previously closed at $34.41.
NKTR has been the topic of several research reports. Mizuho reissued a “buy” rating on shares of Nektar Therapeutics in a research report on Tuesday, February 19th. Goldman Sachs Group began coverage on Nektar Therapeutics in a research note on Thursday, December 13th. They set a “buy” rating and a $62.00 target price for the company. BidaskClub upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 9th. Piper Jaffray Companies set a $100.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, ValuEngine downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, January 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. Nektar Therapeutics has a consensus rating of “Buy” and a consensus price target of $73.92.
The company has a debt-to-equity ratio of 0.14, a current ratio of 17.53 and a quick ratio of 17.39. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 8.63 and a beta of 3.09.
In related news, COO John Nicholson sold 63,000 shares of Nektar Therapeutics stock in a transaction dated Monday, January 28th. The stock was sold at an average price of $42.82, for a total value of $2,697,660.00. Following the completion of the transaction, the chief operating officer now directly owns 237,477 shares in the company, valued at $10,168,765.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 108,882 shares of Nektar Therapeutics stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $42.19, for a total value of $4,593,731.58. Following the completion of the transaction, the chief executive officer now owns 350,924 shares of the company’s stock, valued at $14,805,483.56. The disclosure for this sale can be found here. Insiders sold 241,824 shares of company stock valued at $10,249,993 over the last quarter. Insiders own 4.31% of the company’s stock.
A number of large investors have recently bought and sold shares of NKTR. Wells Fargo & Company MN grew its stake in shares of Nektar Therapeutics by 129.7% during the 3rd quarter. Wells Fargo & Company MN now owns 414,142 shares of the biopharmaceutical company’s stock valued at $25,246,000 after acquiring an additional 233,819 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Nektar Therapeutics by 148.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 11,876 shares of the biopharmaceutical company’s stock valued at $724,000 after acquiring an additional 7,092 shares during the period. Commonwealth Equity Services LLC grew its stake in shares of Nektar Therapeutics by 21.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,320 shares of the biopharmaceutical company’s stock valued at $994,000 after acquiring an additional 2,863 shares during the period. ING Groep NV bought a new position in shares of Nektar Therapeutics during the 3rd quarter valued at approximately $313,000. Finally, SG Americas Securities LLC grew its stake in shares of Nektar Therapeutics by 6.6% during the 3rd quarter. SG Americas Securities LLC now owns 46,465 shares of the biopharmaceutical company’s stock valued at $2,833,000 after acquiring an additional 2,881 shares during the period. Institutional investors and hedge funds own 93.35% of the company’s stock.
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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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