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

Nektar Therapeutics (NASDAQ:NKTR) was the recipient of some unusual options trading on Friday. Traders bought 2,351 call options on the stock. This is an increase of approximately 245% compared to the average daily volume of 681 call options.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NKTR. B. Riley assumed coverage on Nektar Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and set a $6.50 price target on shares of Nektar Therapeutics in a research note on Thursday, March 13th. 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 report on Friday, March 14th. Finally, William Blair reaffirmed a “market perform” rating on shares of Nektar Therapeutics in a report on Thursday, March 13th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $4.92.

Institutional Investors Weigh In On Nektar Therapeutics

A number of large investors have recently bought and sold shares of NKTR. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Nektar Therapeutics by 5.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 650,841 shares of the biopharmaceutical company’s stock worth $846,000 after purchasing an additional 34,599 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Nektar Therapeutics in the third quarter valued at about $41,000. The Manufacturers Life Insurance Company acquired a new position in Nektar Therapeutics during the 3rd quarter worth about $86,000. FMR LLC grew its holdings in Nektar Therapeutics by 403.2% during the 3rd quarter. FMR LLC now owns 386,656 shares of the biopharmaceutical company’s stock worth $503,000 after acquiring an additional 309,822 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Nektar Therapeutics by 1,877.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 238,846 shares of the biopharmaceutical company’s stock valued at $310,000 after acquiring an additional 226,766 shares in the last quarter. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Stock Performance

Shares of NASDAQ NKTR traded up $0.01 during midday trading on Friday, reaching $0.77. 522,227 shares of the company traded hands, compared to its average volume of 1,870,139. The stock’s 50-day simple moving average is $0.85 and its 200-day simple moving average is $1.05. Nektar Therapeutics has a 12 month low of $0.65 and a 12 month high of $1.93. The firm has a market cap of $142.56 million, a PE ratio of -0.91 and a beta of 0.65.

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

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.