The stock last traded at $24.55 slightly over the 50 day moving average of $23.09 and significantly above the 200 day moving average of $20.47. The 50 day moving average was up by +6.32% and the 200 day average went up $4.08 or +19.93%. 1,111K shares changed hands in the last trading session. Overall, volume was down 27.53% under the stocks normal daily volume.
Investors are feeling more bullish on the company recently if you evaluate the fall in short interest. The stock experienced a fall in short interest from September 15, 2017 to September 29, 2017 of -3.12%. Short shares fell 409,837 over that timeframe. Days to cover decreased -1.0 to 10.0 and the short interest percentage is 0.08% as of September 29.
There has been some selling insider activity on Nektar Therapeutics (NASDAQ:NKTR) recently. Sr VP Stephen K. Doberstein disclosed the sale of 43,677 shares of (NKTR). The shares were sold on October 5th for an average price of $24.97. Doberstein now owns $776,617 of the stock according to the SEC filing. Maninder Hora, Sr VP reported the sale of 7,583 shares of NKTR stock. The shares were purchased at an average price of $25.00. The Sr VP now owns $1,455,825 of the stock per the Form 4 SEC filing.
Howard W. Robin, President & CEO disclosed the sale of 83,333 shares. The shares were purchased at an average price of $24.20. Robin now owns $3,690,597 of the stock per the Form 4 SEC filing.
Here are a few substantial investment firms who have updated their positions. Louisiana State Employees Retirement System augmented its holdings by buying 100 shares an increase of 0.2% from 06/30/2017 to 09/30/2017. Louisiana State Employees Retirement System currently owns 63,300 shares valued at $1,519,000. The total value of its holdings increased 22.9%. Rhenman & Partners Asset Management Ab grew its position by buying 71,194 shares an increase of 9.0%. Rhenman & Partners Asset Management Ab now controls 866,194 shares worth $20,789,000. The value of the position overall is up by 33.8%.
As of the end of the quarter Quadrant Capital Group LLC had sold a total of 12 shares trimming its holdings by 11.7%. The value of the total investment in Nektar Therapeutics increased from $0 to $2,000 a change of inf% since the last quarter. As of quarter end Bank Of Montreal /can/ had disposed of 3,207 shares trimming its stake by 88.3%. The value of the investment in NKTR went from $71,000 to $10,000 a change of $61,000 for the reporting period.
H.C. Wainwright issued its first research report on the stock with an initial rating of “Buy”. On September 27 analysts at Mizuho added the stock to its research portfolio setting a rating of “Buy”.
As of the last earnings report the EPS was $-1.40 and is expected to be $-0.98 for the current year with 156,327,000 shares now outstanding. Next quarter’s EPS is expected be $-0.35 and the next full year EPS is anticipated to be $-1.10.
Nektar Therapeutics, launched on June 3, 1998, is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Business’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates. These drug candidates utilize its polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action. Its programs include Immuno-oncology (I-O), Immunology, Pain-NKTR-181 and Oncology-ONZEALD..