Short Interest in Nektar Therapeutics (NASDAQ:NKTR) Rises By 52.3%

Nektar Therapeutics (NASDAQ:NKTR) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totaling 2,935,715 shares, an increase of 52.3% from the December 15th total of 1,927,352 shares. Based on an average daily volume of 1,283,717 shares, the short-interest ratio is currently 2.3 days. Approximately 15.0% of the company’s stock are short sold. Approximately 15.0% of the company’s stock are short sold. Based on an average daily volume of 1,283,717 shares, the short-interest ratio is currently 2.3 days.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, December 17th. HC Wainwright boosted their price target on Nektar Therapeutics from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Wall Street Zen lowered shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. B. Riley lifted their target price on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, BTIG Research boosted their target price on shares of Nektar Therapeutics from $100.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.83.

Nektar Therapeutics Price Performance

NASDAQ:NKTR traded up $2.32 during mid-day trading on Friday, hitting $37.68. The company’s stock had a trading volume of 673,894 shares, compared to its average volume of 676,724. The business’s fifty day moving average is $50.48 and its two-hundred day moving average is $44.06. The stock has a market cap of $766.41 million, a price-to-earnings ratio of -4.73 and a beta of 1.31. Nektar Therapeutics has a 1 year low of $6.45 and a 1 year high of $66.92.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.85) by $1.00. The business had revenue of $11.79 million during the quarter, compared to analysts’ expectations of $10.20 million. Nektar Therapeutics had a negative return on equity of 456.53% and a negative net margin of 192.87%. Analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Insider Activity at Nektar Therapeutics

In related news, insider Mark Andrew Wilson sold 630 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $34,196.40. Following the completion of the transaction, the insider owned 21,585 shares of the company’s stock, valued at $1,171,633.80. The trade was a 2.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jonathan Zalevsky sold 1,157 shares of Nektar Therapeutics stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $62,801.96. Following the completion of the transaction, the insider owned 18,971 shares in the company, valued at $1,029,745.88. This represents a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,994 shares of company stock valued at $216,794 over the last ninety days. 5.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 210 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of Nektar Therapeutics by 70.6% in the third quarter. FNY Investment Advisers LLC now owns 2,602 shares of the biopharmaceutical company’s stock worth $148,000 after acquiring an additional 1,077 shares during the period. Bessemer Group Inc. raised its position in shares of Nektar Therapeutics by 1,741.2% in the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 1,480 shares during the period. Compass Wealth Management LLC purchased a new stake in shares of Nektar Therapeutics during the 3rd quarter worth about $88,000. Finally, Bayforest Capital Ltd acquired a new stake in shares of Nektar Therapeutics during the 3rd quarter valued at about $96,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

About Nektar Therapeutics

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.