Nektar Therapeutics (NASDAQ:NKTR) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Nektar Therapeutics (NASDAQ:NKTR) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.40 and traded as high as $26.35. Nektar Therapeutics shares last traded at $25.00, with a volume of 903,537 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 14th. Jefferies Financial Group raised shares of Nektar Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $15.00 to $30.00 in a research report on Friday, April 11th. B. Riley boosted their target price on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. William Blair reaffirmed a “market perform” rating on shares of Nektar Therapeutics in a research report on Monday, May 12th. Finally, HC Wainwright boosted their target price on shares of Nektar Therapeutics to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.33.

Nektar Therapeutics Trading Up 2.1%

The company has a market capitalization of $310.25 million, a P/E ratio of -2.61 and a beta of 0.94. The firm’s 50 day moving average price is $16.31 and its two-hundred day moving average price is $13.40.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.70) by ($0.60). Nektar Therapeutics had a negative net margin of 152.49% and a negative return on equity of 329.54%. The business had revenue of $10.46 million for the quarter, compared to analyst estimates of $15.61 million. During the same period in the prior year, the business earned ($2.70) EPS. Analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NKTR. Nantahala Capital Management LLC raised its stake in Nektar Therapeutics by 90.0% during the fourth quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company’s stock worth $7,263,000 after acquiring an additional 3,700,000 shares in the last quarter. Almitas Capital LLC grew its holdings in shares of Nektar Therapeutics by 401.1% during the first quarter. Almitas Capital LLC now owns 4,610,872 shares of the biopharmaceutical company’s stock worth $3,135,000 after purchasing an additional 3,690,647 shares during the last quarter. Woodline Partners LP grew its holdings in shares of Nektar Therapeutics by 187.3% during the fourth quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock worth $4,626,000 after purchasing an additional 3,242,841 shares during the last quarter. Altium Capital Management LLC grew its holdings in shares of Nektar Therapeutics by 26,172.0% during the fourth quarter. Altium Capital Management LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock worth $2,790,000 after purchasing an additional 2,988,581 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Nektar Therapeutics by 336.9% during the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after purchasing an additional 2,807,595 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Company Profile

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.