Nasdaq has been way overvalued. It may be 2000 deja vu all over again. When you get companies like LinkedIn dropping 45% for an earnings miss and the big boys FB, AMZN etc getting punished, the current economic cycle for tech stocks is ending and correction is now beginning to find justified valuations. I predict we'll see a leg lower in the next 1- 2 years when it hits rock bottom.
If the bubble continues, NKTR will obviously be swept in with other tech stocks so there's no telling what the true valuation will be. 4-5 bucks is not inconceivable based on history. Thought tempting to buy at these levels, I'm hesitant.
From 11 to 17 bucks pps now cycling back down to 11. I bought at around 11 then sold on the way up to 17 with an average pps of around 15. I'll start another position at 11. For the past 20 years, NKTR has never been an investment. It's been a trade.
Looks like the pending NKTR 214 first patient dose announcement and Adnovate approval in December are beginning to weigh in. In addition, the rebound in the biotech sector is finally taking hold. Couple that to the expected Santa Clause rally and you have a lot of upside potential for NKTR.