Jonathan Zalevsky Sells 51,115 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 51,115 shares of Nektar Therapeutics stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value of $48,048.10. Following the sale, the insider now owns 326,904 shares in the company, valued at $307,289.76. This represents a 13.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jonathan Zalevsky also recently made the following trade(s):

• On Tuesday, November 19th, Jonathan Zalevsky sold 7,785 shares of Nektar Therapeutics stock. The shares were sold at an average price of $1.01, for a total value of $7,862.85.

Nektar Therapeutics Stock Down 1.3 %

NASDAQ:NKTR opened at $0.93 on Friday. The stock has a market cap of $171.23 million, a price-to-earnings ratio of -1.11 and a beta of 0.57. The company’s 50 day moving average price is $1.19 and its 200-day moving average price is $1.24. Nektar Therapeutics has a 52 week low of $0.46 and a 52 week high of $1.93.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NKTR shares. BTIG Research reissued a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a research report on Monday, September 30th. HC Wainwright initiated coverage on Nektar Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $6.50 price target on the stock. Finally, Piper Sandler started coverage on Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $4.10.

Institutional Trading of Nektar Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its holdings in shares of Nektar Therapeutics by 63.0% during the 2nd quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock valued at $91,000 after acquiring an additional 28,338 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Nektar Therapeutics by 2,822.5% during the second quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock valued at $684,000 after purchasing an additional 532,663 shares during the period. Rhumbline Advisers boosted its holdings in Nektar Therapeutics by 3,377.0% in the second quarter. Rhumbline Advisers now owns 185,116 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 179,792 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Nektar Therapeutics in the 2nd quarter worth approximately $29,000. Finally, Candriam S.C.A. purchased a new stake in Nektar Therapeutics during the 2nd quarter valued at $99,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

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.