Nektar Therapeutics Sees Unusually High Options Volume (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR) was the target of some unusual options trading on Wednesday. Investors purchased 7,673 call options on the company. This represents an increase of 3,045% compared to the average volume of 244 call options.

Analysts Set New Price Targets

A number of brokerages have commented on NKTR. B. Riley began coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $6.50 target price on shares of Nektar Therapeutics in a research note on Monday, January 13th. Finally, Piper Sandler initiated coverage on Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $4.08.

Insider Activity

In other news, insider Mark Andrew Wilson sold 33,402 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.90, for a total value of $30,061.80. Following the completion of the sale, the insider now owns 351,892 shares of the company’s stock, valued at $316,702.80. This trade represents a 8.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $1.01, for a total value of $47,464.95. Following the sale, the chief executive officer now directly owns 1,195,710 shares of the company’s stock, valued at approximately $1,207,667.10. This represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 155,575 shares of company stock worth $149,878. 3.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

A number of large investors have recently bought and sold shares of NKTR. Millennium Management LLC raised its holdings in Nektar Therapeutics by 56.1% in the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock worth $5,778,000 after purchasing an additional 1,674,924 shares during the period. SG Americas Securities LLC raised its holdings in shares of Nektar Therapeutics by 30.4% during the third quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 22,285 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Nektar Therapeutics by 5.6% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 650,841 shares of the biopharmaceutical company’s stock valued at $846,000 after acquiring an additional 34,599 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Nektar Therapeutics during the third quarter valued at approximately $41,000. Finally, Valence8 US LP acquired a new position in shares of Nektar Therapeutics during the third quarter valued at approximately $34,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Stock Down 7.8 %

Shares of NKTR opened at $0.70 on Friday. Nektar Therapeutics has a 52 week low of $0.63 and a 52 week high of $1.93. The company has a market capitalization of $129.31 million, a price-to-earnings ratio of -0.83 and a beta of 0.58. The stock’s 50-day moving average price is $0.96 and its 200-day moving average price is $1.15.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The company had revenue of $24.12 million during the quarter, compared to analysts’ expectations of $15.54 million. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. During the same quarter in the prior year, the firm posted ($0.19) EPS. As a group, equities analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.