Nektar Therapeutics (NASDAQ:NKTR) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 8,357,484 shares, a drop of 13.8% from the September 15th total of 9,692,969 shares. Currently, 6.2% of the company’s stock are short sold. Based on an average daily volume of 1,931,377 shares, the days-to-cover ratio is presently 4.3 days.
In related news, Director Robert Chess sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $17.26, for a total transaction of $86,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gil M. Labrucherie sold 3,305 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $17.56, for a total transaction of $58,035.80. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Fortaleza Asset Management Inc. increased its stake in Nektar Therapeutics by 35.0% in the second quarter. Fortaleza Asset Management Inc. now owns 8,105 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 2,100 shares during the last quarter. BlackRock Inc. increased its stake in Nektar Therapeutics by 74.8% in the first quarter. BlackRock Inc. now owns 9,013 shares of the biopharmaceutical company’s stock valued at $124,000 after buying an additional 3,858 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Nektar Therapeutics by 500.7% in the second quarter. Cubist Systematic Strategies LLC now owns 11,911 shares of the biopharmaceutical company’s stock valued at $169,000 after buying an additional 9,928 shares during the last quarter. Genesee Valley Trust Co. increased its stake in Nektar Therapeutics by 5.7% in the second quarter. Genesee Valley Trust Co. now owns 12,135 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 650 shares during the last quarter. Finally, HBK Investments L P bought a new stake in Nektar Therapeutics during the first quarter valued at approximately $178,000. 96.91% of the stock is owned by institutional investors.
Nektar Therapeutics (NASDAQ:NKTR) opened at 15.89 on Friday. The stock has a 50 day moving average of $17.97 and a 200-day moving average of $16.03. The company’s market cap is $2.17 billion. Nektar Therapeutics has a 52-week low of $10.52 and a 52-week high of $19.98.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Wednesday, August 3rd. The biopharmaceutical company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.33) by $0.03. The company earned $32.77 million during the quarter, compared to analyst estimates of $34.17 million. Nektar Therapeutics had a negative net margin of 68.30% and a negative return on equity of 8,769.15%. The company’s quarterly revenue was up 44.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.40) EPS. On average, analysts forecast that Nektar Therapeutics will post ($1.11) EPS for the current year.
NKTR has been the subject of several research reports. Zacks Investment Research upgraded shares of Nektar Therapeutics from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a report on Tuesday, July 19th. Brean Capital reaffirmed a “buy” rating and set a $18.00 price objective on shares of Nektar Therapeutics in a research report on Friday, August 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $21.00 price objective (up previously from $17.00) on shares of Nektar Therapeutics in a research report on Friday, August 5th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Thursday, September 8th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $21.75.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.
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