Nektar Therapeutics (NASDAQ:NKTR) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Nektar Therapeutics (NASDAQ:NKTR) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.34 and traded as high as $1.44. Nektar Therapeutics shares last traded at $1.39, with a volume of 643,585 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NKTR shares. Rodman & Renshaw initiated coverage on Nektar Therapeutics in a report on Friday, June 28th. They set a “buy” rating and a $2.00 target price on the stock. BTIG Research reiterated a “buy” rating and issued a $4.00 price objective on shares of Nektar Therapeutics in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Nektar Therapeutics currently has an average rating of “Hold” and an average price target of $2.33.

Nektar Therapeutics Stock Performance

The stock has a fifty day simple moving average of $1.26 and a 200-day simple moving average of $1.34. The stock has a market cap of $255.79 million, a P/E ratio of -1.51 and a beta of 0.60.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.04). The firm had revenue of $23.49 million for the quarter, compared to the consensus estimate of $17.24 million. Nektar Therapeutics had a negative return on equity of 133.64% and a negative net margin of 190.09%. During the same quarter in the previous year, the business posted ($0.27) earnings per share. On average, research analysts anticipate that Nektar Therapeutics will post -0.85 earnings per share for the current year.

Institutional Trading of Nektar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Samlyn Capital LLC bought a new position in Nektar Therapeutics in the second quarter valued at $11,728,000. Millennium Management LLC boosted its stake in shares of Nektar Therapeutics by 56.1% during the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock worth $5,778,000 after buying an additional 1,674,924 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in shares of Nektar Therapeutics by 66.0% in the 2nd quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock valued at $5,096,000 after acquiring an additional 1,634,046 shares in the last quarter. Armistice Capital LLC acquired a new stake in shares of Nektar Therapeutics in the second quarter valued at about $1,037,000. Finally, Bank of New York Mellon Corp increased its position in shares of Nektar Therapeutics by 2,822.5% in the second quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock valued at $684,000 after acquiring an additional 532,663 shares during the last quarter. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.