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

Nektar Therapeutics (NASDAQ:NKTR) saw some unusual options trading on Friday. Stock traders acquired 2,351 call options on the stock. This is an increase of approximately 245% compared to the typical daily volume of 681 call options.

Nektar Therapeutics Stock Performance

NASDAQ NKTR opened at $0.74 on Friday. The company has a market capitalization of $137.72 million, a P/E ratio of -0.88 and a beta of 0.65. Nektar Therapeutics has a 52-week low of $0.65 and a 52-week high of $1.93. The company has a fifty day moving average of $0.85 and a 200-day moving average of $1.05.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Wednesday, March 12th. The biopharmaceutical company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.33. The business had revenue of $29.18 million for the quarter, compared to analysts’ expectations of $36.65 million. Nektar Therapeutics had a negative net margin of 180.70% and a negative return on equity of 173.28%. As a group, analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Nektar Therapeutics

A number of large investors have recently bought and sold shares of the stock. Two Sigma Securities LLC raised its holdings in Nektar Therapeutics by 56.3% in the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 9,958 shares in the last quarter. Harvest Investment Services LLC purchased a new stake in Nektar Therapeutics in the fourth quarter worth approximately $27,000. US Asset Management LLC bought a new stake in Nektar Therapeutics in the 4th quarter worth approximately $31,000. Intech Investment Management LLC bought a new position in Nektar Therapeutics in the third quarter valued at about $41,000. Finally, XTX Topco Ltd bought a new stake in Nektar Therapeutics during the third quarter valued at approximately $46,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. William Blair reissued a “market perform” rating on shares of Nektar Therapeutics in a research note on Thursday, March 13th. HC Wainwright reaffirmed a “buy” rating and issued a $6.50 target price on shares of Nektar Therapeutics in a research report on Thursday, March 13th. B. Riley started coverage on Nektar Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective for the company. Finally, Oppenheimer upgraded 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. One equities 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 an average rating of “Buy” and an average target price of $4.92.

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.