Home / Healthcare / Nektar Therapeutics (NKTR) Gives Up 3.38% at Midday on September 23, Pressuring Health Care Stocks

Nektar Therapeutics (NKTR) Gives Up 3.38% at Midday on September 23, Pressuring Health Care Stocks

Nektar Therapeutics (NKTR) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the health care sector halfway through the trading day. At the lunch break, shares of NKTR have fallen 3.38% to $18.86 after closing the day prior at $19.52. So far, the stock has traded as high as $19.5 and as low as $18.75. Today’s decline has come with about 492,666 shares changing hands, compared to an average 30-day volume of 1.02 million for Nektar Therapeutics. The price is currently below the 30-day volume weighted average price of $19.02 for NKTR.

The share depreciation gives the company a market capitalization of $2.67 billion based upon 136.73 million shares outstanding. It also means that NKTR has a price-to-book ratio of 332.34:1.

In the past 52 weeks, shares of NKTR have traded as low as $9.92 and as high as $19.98. Technical traders will take note that at $18.86, shares of NKTR are trading above their 200-day MA at $15.02 and above their 50-day MA at $17.48. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.

Who is NKTR?

Nektar Therapeutics Inc is a clinical-stage biopharmaceutical company. The Company develops a pipeline of drug candidates that utilizes its PEGylation and polymer conjugate technology platforms that are designed to develop molecular entities. The company’s 425 employees are led by CEO Howard W. Robin from the corporate headquarters at 455 Mission Bay Boulevard South in San Francisco, CA.

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