Nektar Therapeutics (NASDAQ:NKTR) Insider Mark Andrew Wilson Sells 33,402 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) insider Mark Andrew Wilson sold 33,402 shares of the company’s stock in a transaction on 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 approximately $316,702.80. This trade represents a 8.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Nektar Therapeutics Stock Up 4.8 %

Shares of Nektar Therapeutics stock opened at $0.95 on Friday. The firm has a market cap of $175.46 million, a price-to-earnings ratio of -1.13 and a beta of 0.57. Nektar Therapeutics has a 52-week low of $0.48 and a 52-week high of $1.93. The company’s 50-day simple moving average is $1.14 and its 200-day simple moving average is $1.22.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. BTIG Research restated a “buy” rating and issued a $4.00 price objective on shares of Nektar Therapeutics in a research note on Monday, September 30th. HC Wainwright initiated coverage on Nektar Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $6.50 price target on the stock. Finally, Piper Sandler initiated coverage on Nektar Therapeutics in a research report 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $4.10.

Hedge Funds Weigh In On Nektar Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Samlyn Capital LLC acquired a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at approximately $11,728,000. Eventide Asset Management LLC raised its position in Nektar Therapeutics by 24.8% in the third quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock worth $12,220,000 after acquiring an additional 1,870,904 shares in the last quarter. Millennium Management LLC lifted its holdings in Nektar Therapeutics by 56.1% in the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock valued at $5,778,000 after acquiring an additional 1,674,924 shares during the period. Nantahala Capital Management LLC boosted its position in shares of Nektar Therapeutics by 66.0% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock worth $5,096,000 after purchasing an additional 1,634,046 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Nektar Therapeutics by 11.9% during the 3rd quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company’s stock worth $4,349,000 after purchasing an additional 355,759 shares during the period. Institutional investors and hedge funds own 75.88% of the company’s stock.

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.