Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Nektar Therapeutics shares valued at $76,774 were sold by EASTHAM KARIN on Sep 13. At $3.61 per share, EASTHAM KARIN sold 21,267 shares. The insider’s holdings dropped to 13,033 shares worth approximately $41966.26 following the completion of this transaction.
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Also, Zalevsky Jonathan sold 73,716 shares, netting a total of over 342,779 in proceeds. Following the sale of shares at $4.65 each, the insider now holds 327,123 shares.
Before that, Thomsen Jillian B. had sold 2,006 shares from its account. In a trade valued at $9,549, the SVP & Chief Accounting Officer traded Nektar Therapeutics shares for $4.76 each. Upon closing the transaction, the insider’s holdings decreased to 2,006 shares, worth approximately $1.08 million.
As published in a research note from JP Morgan on August 08, 2022, Nektar Therapeutics [NKTR] has been rated down from a Neutral to an Underweight. As of April 18, 2022, Goldman has decreased its “Neutral” rating to a “Sell” for NKTR. Earlier on March 15, 2022, Mizuho downgraded its rating. Their new recommendation was “a Neutral” for NKTR stock which previously was a “a Buy”.
Analyzing NKTR’s Price Performance
On Thursday, Nektar Therapeutics [NASDAQ: NKTR] plunged -2.13% to $3.22. The stock’s lowest price that day was $3.12, but it reached a high of $3.30 in the same session. During the last five days, there has been a drop of approximately -12.02%. Over the course of the year, Nektar Therapeutics shares have dropped approximately -76.17%. Shares of the company reached a 52-week high of $14.06 on 01/03/22 and a 52-week low of $3.02 on 06/13/22. A 50-day SMA is recorded $4.10, while a 200-day SMA reached $6.78. Nevertheless, trading volume fell to 1.37 million shares from 1.4 million shares the previous day.
Support And Resistance Levels for Nektar Therapeutics (NKTR)
According to the 24-hour chart, there is a support level at 3.13, which, if violated, would cause prices to drop to 3.03. In the upper region, resistance lies at 3.31. The next price resistance is at 3.39. RSI (Relative Strength Index) is 29.61 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.31, which suggests the price will decrease in the coming days. Percent R is at 89.47%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Nektar Therapeutics subject to short interest?
Stocks of Nektar Therapeutics saw a sharp rise in short interest on Jul 14, 2022 jumping by 5.92 million shares to 23.56 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 17.64 million shares. A jump of 25.13% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.89 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.89.
Which companies own the most shares of Nektar Therapeutics (NKTR)?
According to Invesco Advisers, Inc. filings, the company currently owns 35,778,658 shares, which is about 19.09% of the total NKTR shares outstanding. The investor’s shares have plunged by -3,634 from its previous 13-F filing of 35782292.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $112,324,629. The Vanguard Group, Inc. acquire a 5.77% interest valued at $80.04 million while PRIMECAP Management Co. sold a -510,500 stake. A total of 0 shares of Nektar Therapeutics were sold by Wellington Management Co. LLP during the quarter, and 2,928,666 were bought by SSgA Funds Management, Inc.. In its current portfolio, First Trust Advisors LP holds 7,834,551 shares valued at $30.87 million.
In terms of Nektar Therapeutics share price expectations, FactSet research, analysts set an average price target of $4.53 in the next 12 months, up nearly 42.86% from the previous closing price of $3.29. Analysts anticipate Nektar Therapeutics stock to reach $6.00 by 2022, with the lowest price target being $3.00. In spite of this, 10 analysts ranked Nektar Therapeutics stock as an Underweight at the end of 2022.