Analysts Set Nektar Therapeutics (NASDAQ:NKTR) Price Target at $4.10

Shares of Nektar Therapeutics (NASDAQ:NKTR) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $4.10.

NKTR has been the subject of several research analyst reports. HC Wainwright started coverage on Nektar Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $6.50 price target for the company. Piper Sandler assumed coverage on shares of Nektar Therapeutics in a report on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price for the company. Finally, BTIG Research reaffirmed a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a research note on Monday, September 30th.

Nektar Therapeutics Stock Down 1.3 %

Shares of Nektar Therapeutics stock opened at $0.93 on Friday. Nektar Therapeutics has a twelve month low of $0.46 and a twelve month high of $1.93. The business has a 50-day moving average price of $1.18 and a 200-day moving average price of $1.23. The firm has a market cap of $171.23 million, a price-to-earnings ratio of -1.11 and a beta of 0.57.

Insider Transactions at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the sale, the chief executive officer now directly owns 1,195,710 shares of the company’s stock, valued at $1,207,667.10. This represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Zalevsky sold 51,115 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $0.94, for a total transaction of $48,048.10. Following the completion of the sale, the insider now directly owns 326,904 shares of the company’s stock, valued at approximately $307,289.76. The trade was a 13.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,173 shares of company stock worth $119,817. 3.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nektar Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its position in Nektar Therapeutics by 30.4% in the 3rd quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 22,285 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Nektar Therapeutics during the second quarter valued at $29,000. Valence8 US LP bought a new position in shares of Nektar Therapeutics in the third quarter worth about $34,000. Jane Street Group LLC increased its stake in Nektar Therapeutics by 50.0% in the 3rd quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 30,481 shares during the period. Finally, Intech Investment Management LLC bought a new stake in Nektar Therapeutics during the 3rd quarter valued at about $41,000. 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.