NKTR Nektar Therapeutics
XNAS
37.06
Delayed
Stock quote, options chain, IV rank, technicals, AI analysis, and institutional ownership. Iron condor setups Expected move IV rank history Fibonacci levels Insider trading
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
NKTR
$37.06
—
Key stats
$37.06
- 52-Week Range
- $33.40 – $109.00
- YTD
- -14.64%
- IV Rank (30D)
- 55.33
- Straddle Price
- $6.27
- P/C Vol Ratio
- 0.39
- Market Cap
- $1.3B
- Open
- $38.01
- Day Range
- $36.99 – $38.80
- Volume
- 289,125
- Prev Close
- $38.27
Fair Value
MODEL: LONG
A blended fair-value estimate combining up to six valuation methods. Each method is weighted by how well it fits the company — DCF down-weights for unprofitable names; DDM only fires for steady dividend payers; comparables down-weight when peer multiples disagree.
- DCF (quality-aware) — projects free cash flow with a horizon that scales to business quality. True compounders (quality 6/6) get 10 years explicit + 10 years fade before terminal; cyclical/struggling names (quality 0-1) get a 5-year terminal cliff. Quality is scored from ROE, gross margin, growth, FCF margin, debt load, and FCF consistency — the same factors that drive market premium for compounders.
- Market-Implied Growth (in Model Inputs) — reverse-DCF that answers "what growth rate is the market pricing in?". Lets you sanity-check the deviation: if implied growth is plausible for the business, the model's bearish flag may be wrong; if implausible, the market may be over-extrapolating.
- DDM (Gordon Growth Dividend Model) — values the stream of future dividends. Only used when trailing yield ≥ 2% and dividend payments are stable — below that the dividend is a token payout and Gordon (which values only the dividend stream) systematically underprices growth names, so those route to DCF + comparables + market anchor instead.
- P/E, EV/EBITDA, P/B, P/S — applies the peer-group median multiple to this company's per-share metric. Peers come from the same set as the "Related symbols" card. Earnings/sales metrics are forward-tilted by the company's recent revenue growth (capped at 25%) so they're comparable to peers' growth-embedded multiples — mimics how analysts use NTM rather than TTM. Per-multiple weights are biased by company quality (e.g. P/B down-weighted for asset-light tech).
- Market Anchor (SMA50) — the 50-day moving average, weighted by recent trading-range stability (tighter Bollinger bands → higher weight). Captures information fundamentals miss (forward consensus, sentiment, supply/demand) — but only when recent trading is steady enough that the market has converged on a view. During wild breakouts or breakdowns the anchor's weight collapses.
- Options Expected (B-L 30d) — the risk-neutral expected stock price at 30-day options expiration, derived from the full implied-volatility surface via Breeden-Litzenberger (second derivative of call price wrt strike → implied PDF, then E[S_T]). Forward-looking, captures all options-implied information (smile, skew, term structure) in one number. Weighted by chain liquidity. SP500-only at present (pre-computed daily). Backtest evidence: adds modest alpha across most bucket × holding combos.
- Blended value — weighted average. Confidence reflects how many methods fired and how tight peer dispersion is.
- Deviation pill — green when blended FV ≥ 10% above current price (undervalued); red when ≥ 10% below; grey otherwise.
| 10-yr Treasury (rf) | 5.15% |
| Beta vs SPY | 1.72 |
| Cost of Equity (CAPM) | 14.59% (VRP-adj) |
| WACC | 14.56% |
| Volatility Risk Premium | +25.1pp (IV − HV30), ERP adj +50bps |
| Effective Tax Rate | 21.0% |
| Rev. Growth (YoY, DCF input) | -2.8% |
| DCF Horizon | 10 years explicit + fade |
| Free Cash Flow (TTM) | $-0.2B |
| Return on Equity (TTM) | -17.4% |
| Book / Price | 80.7% — banking bias active (P/B is primary) |
| Gross Margin (TTM) | 100.0% |
| FCF Margin (TTM) | -420.7% |
| Debt / Equity | 0.00 |
| Quality Score | 2/6 — normal (10y DCF) |
| SMA 50 | $60.77 (Market Anchor value) |
| SMA 20 / Bollinger Mid | $44.69 |
| Bollinger Width / SMA20 | 176.6% (drives anchor stability) |
| Net Debt | $-0.1B |
| Market Cap | $1B |
Peers used for multiples: ABT, NVS, PFE
(SIC-code peers; ETF co-membership was sector-incoherent)
60-Day Conviction
84%
20-Day Fair Value
≈ by Nov 20, 2026
$37.59
α +0.8%
rank 80%
conviction
49%
40-Day Fair Value
≈ by Dec 21, 2026
$38.24
α +2.5%
rank 82%
conviction
74%
60-Day Fair Value
≈ by Jan 19, 2027
$38.47
α +3.1%
rank 77%
conviction
84%
| Method | Implied Price | Weight | Detail |
|---|---|---|---|
| DCF | n/a | 0% | |
| DDM (Gordon) | n/a | 0% | |
| Peer P/E | n/a | 0% | median 39.6× · 3 peers |
| Peer EV/EBITDA | n/a | 0% | median 19.0× · 3 peers |
| Peer P/B | $107.15 | 11% | median 3.5× · 3 peers |
| Peer P/S | $11.36 | 11% | median 3.8× · 3 peers |
| Market Anchor (SMA50) | $60.77 | 49% | stability 85% (BB-width) |
| Options Expected (B-L 30d) | $37.49 | 29% | 41 strikes · skew +0.14 |
As of 2026-10-22 · updated
Related
About
- Industry (SIC)
- PHARMACEUTICAL PREPARATIONS (2834) · industry map
- Exchange
- XNAS
- Market Cap
- $1.3B
- Employees
- 63
- List Date
- 1994-05-03
- CIK
- 0000906709
- Next Earnings
- 2026-11-05 (After-Close)
- EPS Forecast
- ($2.16) (10 est.)
- Headquarters
- San Francisco, CA
- Homepage
- https://www.nektar.com
Nektar Therapeutics is a clinical-stage, research-based biopharmaceutical company headquartered in San Francisco, California, and incorporated in Delaware, focused on discovering and developing medicines in the field of immunotherapy. The Company directs its efforts toward creating immunomodulatory agents that selectively induce, amplify, attenuate, or prevent immune responses to achieve desired therapeutic outcomes. Its pipeline of clinical-stage and preclinical-stage immunomodulatory agents targets the treatment of autoimmune diseases, including rezpegaldesleukin, NKTR-0165, NKTR-0166, and N…
Summary
—
composite
—
No summary data available for this symbol yet.
Each spoke is this symbol's rank within its sector (0–100; the dotted ring marks the sector median at 50). Higher is more constructive for a long. One spoke — News sentiment — is an absolute reading, not a sector rank. Grayed spokes have no data. A fuller shape is a summary, not a recommendation.
Chart
Seasonality
| Month | '21 | '22 | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|---|---|
| Jan | 11.55% | -18.59% | 24.20% | -8.83% | -13.91% | -14.03% | -3.27% |
| Feb | 9.67% | -7.41% | -53.22% | 22.41% | 3.84% | 80.95% | 9.37% |
| Mar | -15.33% | -50.91% | -53.45% | 19.77% | -15.20% | 5.25% | -18.31% |
| Apr | -3.87% | -26.12% | 2.58% | 61.49% | 24.82% | 12.32% | 11.87% |
| May | -8.09% | -22.67% | -25.00% | -23.03% | -7.13% | -24.96% | -18.48% |
| Jun | -5.09% | 7.04% | -4.26% | -12.06% | 116.31% | 9.32% | 18.54% |
| Jul | -9.87% | 5.60% | -6.56% | 9.84% | -11.83% | 9.42% | -0.57% |
| Aug | -3.01% | 4.51% | 14.29% | 0.79% | 30.05% | 1.12% | 7.96% |
| Sep | 13.96% | -20.40% | -0.15% | 4.84% | 95.63% | -15.62% | 13.04% |
| Oct | -17.65% | 19.75% | -17.70% | -8.46% | 10.33% | -20.54%* | -5.71% |
| Nov | -30.62% | -26.51% | 1.03% | -7.32% | 8.83% | -- | -10.92% |
| Dec | 20.63% | -21.53% | 7.62% | -21.19% | -30.81% | -- | -9.06% |
| Total | -40.36% | -86.27% | -80.99% | 13.38% | 254.24% | 11.92% | 11.99% |
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $43.59
SMA 50: $59.99
SMA 200: $65.04
Current: $37.31
EMA 12: $40.00
EMA 26: $46.85
MACD: -6.8514 | Signal: 0.4838
BEARISH
ADX (14): 44.13
STRONG TREND
+DI: 17.50
−DI: 39.02
Momentum Oscillators
RSI (14): 28.36
OVERSOLD
Stoch %K: 20.59
Stoch %D: 14.16
Williams %R: -78.45
Volume & Volatility
BB Upper: $60.14
BB Lower: $27.04
NEUTRAL
OBV: 61,578,970
Vol SMA 20: 1,650,471
Vol ROC: -83.49%
ATR: $2.83
True Range: $1.80
HV 20: 105.1%
HV 30: 90.8%
HV 60: 70.4%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers:
- Technical indicators suggest a range-bound market with short-term momentum signals neutral
- Recent news headlines are negative, but the impact is likely to be mitigated by the stock's existing volatility and market correlation
- Options metrics indicate a relatively low IV rank and expected move, suggesting limited upside potential
Primary Risks:
- Negative sentiment from recent news headlines could lead to further price erosion
- High beta and average true range suggest above-average volatility, increasing the risk of large price moves in either direction
Investment Thesis: The stock is trading within a range-bound market with short-term momentum signals neutral. Recent negative news headlines may have limited impact due to existing volatility and market correlation.
Recent News Sentiment Impact: The recent news headlines are largely bearish, but their impact on the stock's price movement is likely to be mitigated by the stock's existing volatility and market correlation.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Neutral
- Medium-term (1-3 months): Uptrend
- Long-term (3-12 months): Uptrend
Support/Resistance Levels:
- Upper Bollinger Band: $77.69
- Middle Bollinger Band: $71.85
- Lower Bollinger Band: $66.02
Momentum Signals:
- RSI Interpretation: Neutral (38.71)
- MACD Signal: Bearish (Histogram: -0.54)
- Bollinger Bands Position: Squeeze (Upper/Lower Bollinger Bands)
Volume Analysis:
- Volume SMA 20: 832432.90
- On-Balance Volume (OBV): 78872083.42
News & Sentiment Analysis
Recent Headlines Summary: The recent news headlines are largely bearish, focusing on lawsuits and regulatory issues.
Sentiment Assessment: Negative (65% negative, 35% neutral)
Catalyst Identification: No significant catalysts identified in the recent news headlines.
Market Narrative: The market narrative is largely bearish due to the negative news headlines, but the stock's existing volatility and market correlation may mitigate the impact of these headlines.
Risk & Volatility Assessment
Risk Assessment:
- Beta: 1.17 (vs SPY)
- Alpha: 0.26
- Correlation: 0.18
- Stock Volatility: 0.82
Volatility Regime: The stock is trading within a range-bound market with above-average volatility.
Options Market Signals:
- IV Rank: 17.3% (Low)
- Expected Move: $10.75 (28 DTE), 7-DTE: $2.58
- Put/Call Volume Ratio: 0.10 (Bullish sentiment)
Downside Protection:
- Support levels: Lower Bollinger Band ($66.02)
- Risk management considerations: Stop-loss levels and position sizing considerations
Market Context & Positioning
Sector Performance: The stock is trading within a range-bound market with above-average volatility.
Institutional Activity: No significant institutional activity identified in the recent news headlines or options metrics.
Correlation Analysis: The stock's correlation with the market is moderate (0.18), indicating a relatively high degree of movement in tandem with the broader market.
Relative Valuation: The stock is trading within a range-bound market, with limited upside potential due to the negative news headlines and existing volatility.
Key Levels & Action Items
Critical Price Levels:
- Lower Bollinger Band ($66.02)
- Upper Bollinger Band ($77.69)
Breakout/Breakdown Levels:
- None identified based on the recent technical indicators
Time-Sensitive Catalysts: No significant catalysts identified in the recent news headlines or earnings information.
Risk Management: Stop-loss levels and position sizing considerations are recommended to manage risk in this market.
Conclusion: The stock is trading within a range-bound market with above-average volatility, suggesting limited upside potential. Recent negative news headlines may have some impact on the stock's price movement, but their effect is likely to be mitigated by the stock's existing volatility and market correlation. Investors should consider stop-loss levels and position sizing considerations to manage risk in this market.
Generated
News
All NKTR news →
Nektar Therapeutics stock took a hit Thursday despite test results that suggested its drug has long-term benefits for alopecia patients. The post Nektar Posted Promising Alopecia Results. Here's Why It Took A 22% Beating. appeared first on Investor's Business Daily .
Showing 1–10 of 12
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Earnings History
16 of 19 under expected move
Avg Expected Move
28.51%
Avg Actual Move
5.13%
| Earnings Date | Timing | Expected Move | Actual Move | Ratio | Outcome |
|---|---|---|---|---|---|
| 2021-01-11 | After-Close | 5.99% | 1.55% | 0.26x | Within |
| 2021-05-06 | After-Close | 0.63% | 8.53% | 13.54x | Exceeded |
| 2021-11-04 | After-Close | 10.71% | 19.22% | 1.79x | Exceeded |
| 2022-01-11 | After-Close | 20.48% | 0.73% | 0.04x | Within |
| 2022-02-28 | After-Close | 44.60% | 7.23% | 0.16x | Within |
| 2023-02-28 | After-Close | 3.38% | 9.42% | 2.79x | Exceeded |
| 2023-08-08 | After-Close | 29.13% | 8.94% | 0.31x | Within |
| 2023-11-07 | After-Close | 92.73% | 8.76% | 0.09x | Within |
| 2024-03-04 | After-Close | 35.48% | 1.77% | 0.05x | Within |
| 2024-05-09 | After-Close | 16.25% | 10.00% | 0.62x | Within |
| 2024-08-08 | Pre-Market | 29.66% | 2.54% | 0.09x | Within |
| 2024-11-07 | After-Close | 94.89% | 2.19% | 0.02x | Within |
| 2025-03-12 | Pre-Market | 18.29% | 0.10% | 0.01x | Within |
| 2025-05-08 | Pre-Market | 78.38% | 2.20% | 0.03x | Within |
| 2025-08-07 | Pre-Market | 14.92% | 3.12% | 0.21x | Within |
| 2025-11-06 | After-Close | 18.96% | 1.54% | 0.08x | Within |
| 2026-03-12 | After-Close | 10.45% | 4.11% | 0.39x | Within |
| 2026-05-07 | After-Close | 10.14% | 1.78% | 0.18x | Within |
| 2026-08-13 | After-Close | 6.65% | 3.82% | 0.57x | Within |
Earnings calendar: this week’s reports with expected vs actual moves →
NKTR Options Activity & IV Rank
NKTR IV rank history, 52-week IV rank and IV percentile →
Volatility Metrics
Current IV: 73.2%
7-DTE IV: —
Expected Move: $6.27
7-DTE Move: $6.27
Days to Exp: 29 (2026-11-20)
Options Flow
Call Volume: 1,257
Put Volume: 490
P/C Volume: 0.39
BULLISH
Call OI: 11,930
Put OI: 5,022
P/C OI: 0.421
Total OI: 16,952
ATM Options Pricing
ATM Call: $4.10
ATM Put: $2.17
Call %: 11.1%
Put %: 5.9%
Chain Summary
Chain Volume: 5,674
Chain OI: 40,649
Last Updated: 10/22/2026
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Dealer Positioning
TYPICAL γ
Estimated net dealer gamma is at the 25th percentile of this name's own daily history, within its typical range. This describes current positioning; it is not a forecast or a trading signal.
Gamma percentile
25%
vs own history
GEX tilt
-0.23
OI-weighted, today
Vanna tilt
+0.34
δ-sensitivity to IV
Charm tilt
-0.35
δ-decay vs time
Vanna tilt +0.34: the estimated dealer exposure leans positive, so the modeled hedge would shift noticeably if implied volatility changed.
Charm tilt -0.35: the estimated dealer exposure leans negative, so the modeled hedge would shift noticeably as time passes and options approach expiry.
? What is this?
· 21 ATM contracts, 3k total OI
Net dealer gamma is an estimate of the aggregate gamma held by options market makers across this name's option chain, weighted by open interest. Dealer positions aren't public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open. Actual dealer books can differ.
Gamma percentile ranks today's estimate against this name's own daily history, from 0% (the lowest reading on record) to 100% (the highest). Raw gamma scales with how much open interest a chain carries, so it isn't comparable across names; the percentile is. The badge marks the bottom 20% as low and the top 20% as high.
Tilts run from −1 to +1 and show how lopsided the estimated dealer exposure is. GEX tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.
This card describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility and not a trading signal. Market-wide view: Dealer positioning screener.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
No data
30 DTE / 10d
14%
-7.9
pts
EXTREME
ATM 75.2% / Wing 67.4%
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)55.3MediumOct 22
Straddle Price (30 DTE)$6.27Oct 22
Beta Analysis
Risk Metrics
Beta: 0.9822
Alpha: -31.49%
Correlation: 0.1474
R-Squared: 2.2%
Stock Volatility: 85.0%
Market Volatility: 12.8%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Moderate volatility - stock generally follows market
Beta & Alpha Over Time
Notable investors who own NKTR
3 of 37 tracked investors
| Investor | Value | Share of their portfolio | Rank | Q/Q shares | Source |
|---|---|---|---|---|---|
| Millennium Management Hedge fund Izzy Englander | $33.4M | #834 of 3716 | +18.3% | 13F | |
| Citadel Hedge fund Ken Griffin | $11.2M | #1510 of 6285 | -68.9% | 13F | |
| Rockefeller Capital Management Family office Rockefeller family | $14K | #3875 of 4729 | new | 13F |
Hedge funds, activists, holding companies and family offices we track, from their latest 13F (quarter-end value) and Form 4 filings in the last 3 years. Family offices · all institutions
NKTR Institutional Ownership (13F)
Latest filings — 2026-09-30
? 13F Guide
Diluted shares outstanding: 18,660,215 (as of 2026-03-31)
Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
13 filers$119.42M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $57.50M | 48.15% | 2026-06-30 |
| 2 | Caption Management, LLC | $11.94M | 10.00% | 2026-06-30 |
| 3 | Millennium Management LLC Custodian | $11.87M | 9.94% | 2026-06-30 |
| 4 | Citadel Advisors LLC Custodian | $11.43M | 9.57% | 2026-06-30 |
| 5 | IMC-Chicago, LLC Custodian | $9.62M | 8.06% | 2026-06-30 |
| 6 | GROUP ONE TRADING LLC Custodian | $6.03M | 5.05% | 2026-06-30 |
| 7 | Wolverine Trading, LLC Custodian | $2.79M | 2.34% | 2025-09-30 |
| 8 | TUDOR INVESTMENT CORP ET AL | $2.35M | 1.96% | 2026-06-30 |
| 9 | K2 PRINCIPAL FUND, L.P. | $1.75M | 1.46% | 2026-06-30 |
| 10 | Jane Street Group, LLC Custodian | $1.57M | 1.32% | 2026-06-30 |
| 11 | Simplex Trading, LLC Custodian | $1.51M | 1.27% | 2026-06-30 |
| 12 | D. E. Shaw & Co., Inc. Custodian | $774.89K | 0.65% | 2026-06-30 |
| 13 | RFG Advisory, LLC | $279.24K | 0.23% | 2026-06-30 |
11 filers$74.26M notional
| # | Filer | Notional Value | % of Total | Period |
|---|---|---|---|---|
| 1 | Susquehanna International Group, LLP Custodian | $27.54M | 37.09% | 2026-06-30 |
| 2 | Citadel Advisors LLC Custodian | $12.25M | 16.50% | 2026-06-30 |
| 3 | LMR Partners LLP | $9.08M | 12.22% | 2026-06-30 |
| 4 | GROUP ONE TRADING LLC Custodian | $5.82M | 7.83% | 2026-06-30 |
| 5 | IMC-Chicago, LLC Custodian | $4.45M | 5.99% | 2026-06-30 |
| 6 | Simplex Trading, LLC Custodian | $4.34M | 5.84% | 2026-06-30 |
| 7 | Wolverine Trading, LLC Custodian | $4.33M | 5.83% | 2025-09-30 |
| 8 | NOMURA HOLDINGS INC | $2.79M | 3.76% | 2026-06-30 |
| 9 | Caption Management, LLC | $1.82M | 2.45% | 2026-06-30 |
| 10 | Jane Street Group, LLC Custodian | $1.63M | 2.20% | 2026-06-30 |
| 11 | TUDOR INVESTMENT CORP ET AL | $216.41K | 0.29% | 2026-06-30 |
NKTR Insider Trading (Form 4)
Latest: 2026-09-25Form 4 filings — insider beneficial-ownership changes by officers, directors, and 10%+ holders. Filed within 2 business days of transaction.
| Filed | Reporter | Role | Action | Shares | Avg Price | Net $ | Link |
|---|---|---|---|---|---|---|---|
| 2026-09-25 | Roy A Whitfield | Director | Award (A) | +2,000 | — | EDGAR | |
| 2026-09-25 | Diana Brainard | Director | Award (A) | +2,000 | — | EDGAR | |
| 2026-09-25 | R Scott Greer | Director | Award (A) | +2,000 | — | EDGAR | |
| 2026-09-25 | Jeffrey Robert Ajer | Director | Award (A) | +2,000 | — | EDGAR | |
| 2026-09-25 | Robert Chess | Director | Award (A) | +2,000 | — | EDGAR | |
| 2026-08-20 | Jonathan Zalevsky | Chief R&D Officer | Sell (S) | −186 | $71.98 | -$13.4K | EDGAR |
| 2026-08-20 | Howard W Robin | President & CEO | Sell (S) | −418 | $71.98 | -$30.1K | EDGAR |
| 2026-07-24 | Jonathan Zalevsky | Chief R&D Officer | Grant (A) | +16,500 opt | — | EDGAR | |
| 2026-07-24 | Howard W Robin | President & CEO | Grant (A) | +57,200 opt | — | EDGAR | |
| 2026-07-02 | Jonathan Zalevsky | Chief R&D Officer | Sell (S) | −5,681 | $70.00 | -$397.7K | EDGAR |
| 2026-06-18 | Howard W Robin | President & CEO | Sell (S) | −20,000 | $60.75 | -$1.22M | EDGAR |
| 2026-06-17 | Jonathan Zalevsky | Chief R&D Officer | Sell (S) | −5,538 | $60.71 | -$336.2K | EDGAR |
| 2026-05-21 | Jonathan Zalevsky | Chief R&D Officer | Sell (S) | −199 | $65.51 | -$13.0K | EDGAR |
| 2026-05-21 | Howard W Robin | President & CEO | Sell (S) | −444 | $65.51 | -$29.1K | EDGAR |
| 2026-02-20 | Howard W Robin | President & CEO | Sell (S) | −423 | $73.00 | -$30.9K | EDGAR |
Codes: P = open-market purchase · S = open-market sale · A = grant/award · M = option exercise · F = tax withholding at vest · G = bona-fide gift · D = disposition to issuer · J = other (described in filing footnote — typically 401(k), trust, inheritance) · W = will/inheritance. Only P / S codes carry directional signal.
NKTR Insider Holdings
8 insiders · @ $37.31
Officers, directors, and 10%+ owners who have filed a Form 4 in the past two years, ranked by current disclosed exposure (shares × today's price). Shares are direct + indirect (via trusts / LLCs / spouse). Excludes unvested RSU and option grants — those aren't beneficially owned until vest.
| # | Insider | Role | Shares | Disclosed Exposure | Lifetime OM Net | Filings | Last Filed |
|---|---|---|---|---|---|---|---|
| 1 | Howard W Robin | President & CEO | 54,655 | $2.04M | -$99.18M | 100 | 2026-08-20 |
| 2 | R Scott Greer | Director | 22,239 | $829.7K | -$4.22M | 33 | 2026-09-25 |
| 3 | Mark Andrew Wilson | Chief Legal Officer | 21,585 | $805.3K | -$673.7K | 30 | 2025-11-25 |
| 4 | Robert Chess | Director | 19,159 | $714.8K | -$9.49M | 59 | 2026-09-25 |
| 5 | Roy A Whitfield | Director | 17,751 | $662.3K | $746.2K | 37 | 2026-09-25 |
| 6 | Jonathan Zalevsky | Chief R&D Officer | 9,570 | $357.1K | -$4.92M | 45 | 2026-08-20 |
| 7 | Jeffrey Robert Ajer | Director | 4,277 | $159.6K | -$653.5K | 16 | 2026-09-25 |
| 8 | Diana Brainard | Director | 3,904 | $145.7K | $0 | 5 | 2026-09-25 |
Lifetime OM Net = signed sum of open-market buys (P) and sells (S) over their career; excludes grants, tax withholdings, and dispositions to issuer. A large negative number is normal for long-tenured executives — they've sold compensation grants over many years.
NKTR Board & Officers
As of SEC filings through Sep 25, 2026Directors 6
- Robert Chess · on file since 2006
- Roy A Whitfield · on file since Sep 2006
- Howard W Robin · listed since Mar 2007
- R Scott Greer · since Feb 1, 2010
- Jeffrey Robert Ajer · since Sep 19, 2017
- Diana Brainard · since Nov 11, 2021
Officers 3
- Howard W Robin · President & CEO · since Jan 16, 2007
- Linda M Rubinstein · Interim CFO · since May 15, 2026
- Jonathan Zalevsky · Chief R&D Officer · since Oct 1, 2019
Changes in the last 10 years (22)
| May 15, 2026 | Linda M Rubinstein became Interim CFO |
| Nov 21, 2025 | The company announced the departure of Mark Andrew Wilson as Chief Legal Officer in an SEC filing |
| May 13, 2024 | Deep Track Capital, LP reported in an SEC filing no longer being a 10% owner |
| May 13, 2024 | Deep Track Biotechnology Master Fund, Ltd. reported in an SEC filing no longer being a 10% owner |
| May 13, 2024 | David Kroin reported in an SEC filing no longer being a 10% owner |
| Mar 5, 2024 | Deep Track Capital, LP became a 10% owner |
| Mar 5, 2024 | Deep Track Biotechnology Master Fund, Ltd. became a 10% owner |
| Mar 5, 2024 | David Kroin became a 10% owner |
| Apr 17, 2023 | The company announced the departure of Jillian B. Thomsen as Chief Financial Officer in an SEC filing |
| Apr 17, 2023 | Sandra A. Gardiner became Chief Financial Officer |
| Apr 6, 2023 | The company announced the departure of Karin Eastham from the board in an SEC filing |
| Nov 18, 2022 | Mark Andrew Wilson listed as Chief Legal Officer (previously SVP & General Counsel) in SEC filings |
| Nov 18, 2022 | Jillian B. Thomsen listed as Chief Financial Officer (previously SVP & Chief Accounting Officer) in SEC filings |
| Apr 25, 2022 | The company announced the departure of John Northcott as SVP & Chief Commercial Officer in an SEC filing |
| Nov 11, 2021 | Diana Brainard became a director |
| Mar 31, 2020 | Mark Andrew Wilson became SVP & General Counsel |
| Dec 12, 2019 | Myriam Curet became a director |
| Dec 2, 2019 | John Northcott became SVP & Chief Commercial Officer |
| Oct 2, 2019 | Gil M Labrucherie listed as SVP, COO & CFO (previously SVP & Chief Financial Officer) in SEC filings |
| Oct 1, 2019 | Jonathan Zalevsky became Chief R&D Officer |
| Sep 27, 2018 | Karin Eastham became a director |
| Sep 19, 2017 | Jeffrey Robert Ajer became a director |
Not reported recently (11)
- Myriam Curet · Last reported as a director in an SEC filing dated Sep 20, 2023
- Sandra A. Gardiner · Last reported as Chief Financial Officer in an SEC filing dated Apr 25, 2023
- Gil M Labrucherie · Last reported as SVP, COO & CFO in an SEC filing dated May 17, 2022
- Lutz Lingnau · Last reported as a director in an SEC filing dated Sep 25, 2020
- Stephen K Doberstein · Last reported as SVP & Chief Scientific Officer in an SEC filing dated Sep 9, 2019
- John Nicholson · Last reported as SVP & Chief Operating Officer in an SEC filing dated Aug 19, 2019
- Maninder Hora · Last reported as SVP Pharma Dev & Mfg Ops in an SEC filing dated May 17, 2019
- Christopher A Kuebler · Last reported as a director in an SEC filing dated Oct 1, 2018
- Dennis L Winger · Last reported as a director in an SEC filing dated Aug 21, 2018
- Ivan P. Gergel · Last reported as SVP & Chief Medical Officer in an SEC filing dated Nov 17, 2017
- Joseph J Krivulka · Last reported as a director in an SEC filing dated Sep 21, 2017
Compiled from SEC filings by the company and its directors and officers. Dates are as stated in those filings. Where no filing says when someone left, we show the last filing that listed them.
NKTR Proposed Insider Sales (Form 144)
Latest: 2026-08-18
? Form 144 Guide
Last 30d:
0 filings
· Last 90d:
2 filings
· $43K notice value
· 2 unique filers
What is Form 144? A notice of intent to sell restricted or control stock under Rule 144. Affiliates (officers, directors, 10%+ owners) and holders of restricted shares must file Form 144 when planning to sell more than 5,000 shares or $50,000 in any 3-month rolling window.
How it relates to Form 4: Form 144 is filed before the trade (up to 90 days in advance); Form 4 is filed within 2 business days after the trade executes. Not every Form 144 results in a sale — the filer may cancel or delay. Look for the corresponding Form 4 on the Insider Activity card to confirm a sale actually happened.
10b5-1 plans: Trades made under a pre-scheduled Rule 10b5-1 plan are not discretionary — they execute automatically on dates set months earlier, regardless of news. High 10b5-1 percentages mean less per-filing signal value, though cumulative selling volume still matters.
"Notice value": Aggregate market value the filer wrote into the Form 144 — i.e. the size of the planned sale, not necessarily the executed dollars. An amended notice (Form 144/A) replaces the original it amends, and cancelled notices are dropped, so neither is double-counted above. A filed value that is clearly inconsistent with the share count at the stock's price (a filer typo) shows as a dash and is left out of the totals.
Source & freshness: Sourced from public Form 144 filings. Refreshed daily; new filings typically appear here the morning after they are filed.
Top 90-day filers:
ROBIN HOWARD W (1, $30K) · Zalevsky Jonathan (1, $13K)
| Filed | Filer | Role | Shares | Notice Value | Planned Sale | Broker | Plan | Link |
|---|---|---|---|---|---|---|---|---|
| 2026-08-18 | Zalevsky Jonathan | Officer | 186 | $13.4K | 2026-08-18 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-08-18 | ROBIN HOWARD W | Officer, Director | 418 | $30.1K | 2026-08-18 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-06-30 | JONATHAN ZALEVSKY | Officer | 5,681 | $371.5K | 2026-06-30 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2026-06-17 | ROBIN HOWARD W | Officer, Director | 10,000 | $602.7K | 2026-06-17 | Fidelity Brokerage Services LLC | 10b5-1 | EDGAR |
| 2026-06-16 | ROBIN HOWARD W | Officer, Director | 10,000 | $609.6K | 2026-06-16 | Fidelity Brokerage Services LLC | 10b5-1 | EDGAR |
| 2026-06-15 | JONATHAN ZALEVSKY | Officer | 5,538 | $328.8K | 2026-06-15 | Morgan Stanley Smith Barney LLC … | 10b5-1 | EDGAR |
| 2026-05-19 | Zalevsky Jonathan | Officer | 199 | $13.0K | 2026-05-19 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-05-19 | ROBIN HOWARD W | Officer, Director | 444 | $29.1K | 2026-05-19 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-03-13 | Wilson Mark Andrew | Former Officer | 78,510 | $5.70M | 2026-03-13 | Fidelity Brokerage Services LLC | — | EDGAR |
| 2026-02-18 | ROBIN HOWARD W | Officer, Director | 423 | $30.9K | 2026-02-18 | Fidelity Brokerage Services LLC | — | EDGAR |
Notice value is the aggregate market value the filer states they intend to sell — not a confirmed transaction. Compare to Insider Activity (Form 4) to see which planned sales actually executed. Market-wide feed: Planned sales (Form 144).
ETF Holders
46 ETFs hold NKTR
25 shown · $224.63M total exposure · 0.04% AUM-weighted avg weight
| # | ETF | Provider | Weight | $ Exposure | ETF AUM | As Of |
|---|---|---|---|---|---|---|
| 1 | VTI Vanguard Morningstar Total Stock Market ETF | Vanguard | 0.00% | $65.5M | — | 2026-09-30 |
| 2 | XBI State Street® SPDR® S&P® Biotech ETF | SPDR (State Street) | 0.38% | $39.9M | $10.4B | 2026-10-20 |
| 3 | IWM iShares Russell 2000 ETF | iShares (BlackRock) | 0.05% | $34.3M | $75.1B | 2026-10-20 |
| 4 | VXF Vanguard Extended Market ETF | Vanguard | 0.03% | $23.4M | — | 2026-09-30 |
| 5 | VTWO Vanguard Russell 2000 ETF | Vanguard | 0.07% | $12.1M | — | 2026-09-30 |
| 6 | IWO iShares Russell 2000 Growth ETF | iShares (BlackRock) | 0.08% | $11.2M | $13.6B | 2026-10-20 |
| 7 | SCHA Schwab U.S. Small-Cap ETF | Nport | 0.04% | $9.9M | — | 2026-05-31 |
| 8 | VHT Vanguard Health Care ETF | Vanguard | 0.03% | $5.5M | — | 2026-09-30 |
| 9 | PRFZ Invesco RAFI US 1500 Small-Mid ETF | Nport | 0.15% | $4.2M | — | 2026-07-31 |
| 10 | LFSC F/m Emerald Life Sciences Innovation ETF | Nport | 3.14% | $3.3M | — | 2026-05-31 |
| 11 | DWAS Invesco Dorsey Wright SmallCap Momentum ETF | Nport | 0.67% | $2.8M | — | 2026-05-31 |
| 12 | VTWG Vanguard Russell 2000 Growth ETF | Vanguard | 0.12% | $2.0M | — | 2026-09-30 |
| 13 | ITOT iShares Core S&P Total U.S. Stock Market ETF | iShares (BlackRock) | 0.00% | $1.9M | $97.4B | 2026-10-20 |
| 14 | LABU Direxion Daily S&P Biotech Bull 3X ETF | Direxion | 0.25% | $1.6M | — | 2026-10-21 |
| 15 | IWN iShares Russell 2000 Value ETF | iShares (BlackRock) | 0.01% | $1.4M | $13.7B | 2026-10-20 |
| 16 | SCHB Schwab U.S. Broad Market ETF | Nport | 0.00% | $1.2M | — | 2026-05-31 |
| 17 | SPIT F/m Emerald Special Situations ETF | Nport | 3.11% | $889,093 | — | 2026-04-30 |
| 18 | RSSL Global X Russell 2000 ETF | Global X | 0.04% | $635,741 | — | 2026-10-21 |
| 19 | AVSC Avantis U.S. Small Cap Equity ETF | Avantis | 0.02% | $611,361 | $3.1B | 2026-10-20 |
| 20 | FHLC Fidelity MSCI Health Care Index ETF | Fidelity | 0.02% | $587,241 | $3.8B | 2026-10-20 |
| 21 | ONEQ Fidelity Nasdaq Composite Index ETF | Fidelity | 0.00% | $459,815 | $10.9B | 2026-10-20 |
| 22 | BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF | JPMorgan | 0.05% | $392,229 | $729.1M | 2026-10-21 |
| 23 | BBC Virtus Biotech Clinical Trials Etf | Nport | 0.80% | $369,887 | — | 2026-07-31 |
| 24 | IWV iShares Russell 3000 ETF | iShares (BlackRock) | 0.00% | $364,707 | $20.6B | 2026-10-20 |
| 25 | ISCV iShares Morningstar Small-Cap Value ETF | iShares (BlackRock) | 0.04% | $295,601 | $672.7M | 2026-10-20 |
Fundamentals
Quarterly filings sourced from SEC 10-Q / 10-K reports. TTM tiles aggregate the most recent four quarters; bars show the last ~12 quarters oldest → newest.
Metrics
- Revenue — top-line sales. Look for consistent YoY growth; seasonal businesses need same-quarter comparisons (Q4 '24 vs Q4 '23).
- Net Income — bottom-line profit after all expenses. Can be volatile from one-time items; red bars = net loss.
- Diluted EPS — net income per share assuming options/converts are exercised. Direct input to the P/E ratio.
- Operating Cash Flow — cash generated from core operations, before capex and financing. Harder to manipulate than net income; growing OCF is a quality signal.
How to read the bars
- Sequential growth — quarter-over-quarter trend. Accelerating bars are a momentum signal.
- YoY growth — compare to the same quarter a year earlier to remove seasonality.
- Quality — OCF should roughly track Net Income over time. Large divergence (net income ≫ OCF) flags accruals risk.
- Margins — scan the bar ratios: Net Income / Revenue tells you margin trend without needing a separate chart.
TTM (trailing-twelve-month) smooths seasonality and is used for the P/E calculation. Filings appear 30–90 days after the period closes.
Trailing P/E
—
TTM Diluted EPS
$-8.23
TTM Revenue
$55.63M
TTM Net Income
$-158.10M
TTM Op. Cash Flow
$-203.76M
Quarterly figures (12 quarters)
| Quarter | Period End | Revenue | Net Income | Diluted EPS | Op. Cash Flow |
|---|---|---|---|---|---|
| Q1 '26 | 2026-03-31 | $10.86M | $-44.90M | $-1.82 | $-44.30M |
| Q4 '25 | 2025-12-31 | $21.81M | $-36.08M | $-1.59 | $-64.96M |
| Q3 '25 | 2025-09-30 | $11.79M | $-35.52M | $-1.87 | $-48.76M |
| Q2 '25 | 2025-06-30 | $11.18M | $-41.59M | $-2.95 | $-45.74M |
| Q1 '25 | 2025-03-31 | $10.46M | $-50.88M | $-3.62 | $-49.05M |
| Q4 '24 | 2024-12-31 | $29.18M | $7.26M | $0.59 | $-46.19M |
| Q3 '24 | 2024-09-30 | $24.12M | $-37.06M | $-2.66 | $-43.93M |
| Q2 '24 | 2024-06-30 | $23.49M | $-52.36M | $-3.76 | $-37.70M |
| Q1 '24 | 2024-03-31 | $21.64M | $-36.80M | $-2.85 | $-47.89M |
| Q4 '23 | 2023-12-31 | $23.89M | $-42.08M | $-3.30 | $-47.05M |
| Q3 '23 | 2023-09-30 | $24.14M | $-45.84M | $-3.60 | $-42.12M |
| Q2 '23 | 2023-06-30 | $20.50M | $-51.12M | $-4.05 | $-51.52M |
Q1 2026 • period ending 2026-03-31 • filed 2026-05-08
Valuation
Ratios derived from TTM financials and the current market price, sampled daily. History chart shows how expensive the stock is today relative to its own recent past.
Price Multiples
- P/E — price / TTM earnings. Rough market rule: 10–15 value, 15–25 market, >30 growth/premium. Negative when earnings are negative.
- P/B — price / book value. Useful for financials and asset-heavy names; meaningless for asset-light software.
- P/S — price / TTM revenue. Useful when earnings are negative or noisy (early-stage growth).
- EV/EBITDA — capital-structure-neutral. <10 cheap, 10–15 reasonable, >20 rich. Good for comparing across leverage profiles.
- EV/Sales — like P/S but accounts for debt + cash. Compare within sector.
Profitability & Yields
- ROE — return on equity. >15% strong, >25% exceptional. Caution: high leverage inflates ROE.
- ROA — return on assets. Leverage-neutral; >5% solid, >10% exceptional.
- Div Yield — annual dividend / price. Compare to 10Y Treasury; sustained yield >6% often signals distress.
- FCF Yield — free cash flow / market cap. >5% is attractive; negative means burning cash.
Balance Sheet
- Debt/Equity — leverage. <1 conservative, >2 aggressive. Sector-dependent (utilities naturally high, tech low).
- Current Ratio — short-term liquidity. >1.5 comfortable, <1 raises short-term solvency flags.
Reading the history chart
- Compare current level to the 3-year band: near the high end = relatively expensive; near the low = relatively cheap.
- Multiples expanding while earnings are flat = sentiment-driven rally.
- Multiples compressing while earnings grow = value coming from fundamentals.
P/E
—
P/B
1.21
P/S
12.52
EV/EBITDA
—
EV/Sales
9.84
ROE
-27.4%
ROA
-20.7%
Div Yield
0.00%
FCF Yield
-29.24%
Debt/Equity
0.00
Current Ratio
—
Market Cap
$696.77M
as of 2026-10-22
Short Interest & Float
Regulatory short-interest reports publish on a bi-weekly settlement cadence; short-volume is reported daily by the trade-reporting facilities. Float is derived from insider-ownership filings.
Metric definitions
- Short Interest — total shares currently sold short as of the settlement date. Lags real time by ~8 business days.
- SI % of Float — short interest / free float. The key crowding metric.
- Days to Cover — short interest / avg daily volume. How many full trading days it would take shorts to buy back. High DTC + catalyst = squeeze fuel.
- Short Vol Ratio — today's short-sale volume / total volume. Intraday selling pressure proxy (not the same as short interest).
- Free Float — shares available for public trading (total shares minus insider / restricted).
- Float % — free float / shares outstanding. <50% = tightly held, more prone to squeezes.
How to read the signals
- SI % of Float < 5% — typical, no particular signal.
- 5–15% — elevated; watch for catalysts (earnings, guidance, macro).
- 15–30% — heavily shorted; tight-float names in this range have produced notable squeezes historically.
- >30% — extreme; borrow is likely expensive and squeeze risk is material.
- Days to Cover > 5 combined with high SI% amplifies squeeze potential.
History chart
- Trend matters more than level. Rapidly rising short interest often precedes negative catalysts or heavy hedging.
- A sudden drop in SI after a rally may indicate a squeeze in progress.
Short interest is reported mid-month and end-of-month; short volume is daily.
Short Interest
6.97M
SI % of Float
20.96%
Days to Cover
3.76
Short Vol Ratio
60.9%
Free Float
33.25M
Float %
97.4%
Short interest 2026-09-30 • Short volume 2026-10-21 • Float 2026-08-24