Traders Purchase High Volume of Nektar Therapeutics Call Options (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR) was the recipient of unusually large options trading on Friday. Stock traders purchased 2,351 call options on the stock. This represents an increase of approximately 245% compared to the typical volume of 681 call options.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. B. Riley assumed coverage on shares of Nektar Therapeutics in a report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 target price for the company. Oppenheimer raised shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a research note on Friday, March 14th. William Blair reiterated a “market perform” rating on shares of Nektar Therapeutics in a research note on Thursday, March 13th. Finally, HC Wainwright reissued a “buy” rating and set a $6.50 price objective on shares of Nektar Therapeutics in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $4.92.

Institutional Trading of Nektar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eventide Asset Management LLC lifted its position in shares of Nektar Therapeutics by 24.8% during the third quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock worth $12,220,000 after purchasing an additional 1,870,904 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings 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 purchasing an additional 3,700,000 shares during the last quarter. Woodline Partners LP raised its holdings in 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 acquiring an additional 3,242,841 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Nektar Therapeutics by 17.5% in the fourth quarter. Renaissance Technologies LLC now owns 3,910,786 shares of the biopharmaceutical company’s stock valued at $3,637,000 after acquiring an additional 583,153 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Nektar Therapeutics by 11.9% in the third quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company’s stock valued at $4,349,000 after buying an additional 355,759 shares during the last quarter. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Stock Down 2.3 %

NKTR opened at $0.74 on Friday. Nektar Therapeutics has a 12-month low of $0.65 and a 12-month high of $1.93. The firm has a market capitalization of $137.72 million, a P/E ratio of -0.88 and a beta of 0.65. The stock has a fifty day moving average of $0.85 and a 200-day moving average of $1.05.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.33. The company had revenue of $29.18 million during the quarter, compared to analysts’ expectations of $36.65 million. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. On average, analysts expect that Nektar Therapeutics will post -0.72 earnings per share 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.