Nektar Therapeutics (NASDAQ:NKTR) Given “Buy” Rating at HC Wainwright

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Tuesday,Benzinga reports. They currently have a $6.50 target price on the biopharmaceutical company’s stock.

Several other equities analysts have also commented on the company. Piper Sandler started coverage on Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 price target on the stock. B. Riley started coverage on shares of Nektar Therapeutics in a research note on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective on the stock. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nektar Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $4.08.

Nektar Therapeutics Price Performance

NASDAQ:NKTR opened at $0.85 on Tuesday. Nektar Therapeutics has a 12 month low of $0.65 and a 12 month high of $1.93. The business’s 50-day moving average is $0.91 and its two-hundred day moving average is $1.11. The firm has a market capitalization of $155.87 million, a PE ratio of -1.01 and a beta of 0.58.

Insider Transactions at Nektar Therapeutics

In related news, insider Mark Andrew Wilson sold 33,402 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.90, for a total transaction of $30,061.80. Following the completion of the sale, the insider now owns 351,892 shares of the company’s stock, valued at $316,702.80. This represents a 8.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 46,995 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the sale, the chief executive officer now directly owns 1,195,710 shares in the company, valued at approximately $1,207,667.10. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 165,586 shares of company stock worth $159,990. 3.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Nektar Therapeutics

Hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC increased its stake in shares of Nektar Therapeutics by 56.3% in the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 9,958 shares during the period. Harvest Investment Services LLC acquired a new stake in Nektar Therapeutics in the 4th quarter valued at approximately $27,000. US Asset Management LLC acquired a new stake in Nektar Therapeutics in the 4th quarter valued at approximately $31,000. Valence8 US LP bought a new stake in Nektar Therapeutics during the 3rd quarter valued at $34,000. Finally, Intech Investment Management LLC acquired a new position in Nektar Therapeutics during the 3rd quarter worth $41,000. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Company Profile

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.