Nektar Therapeutics (NASDAQ:NKTR) Stock Holdings Increased by State Street Corp

State Street Corp boosted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR) by 11.9% in the 3rd quarter, Holdings Channel reports. The firm owned 3,345,733 shares of the biopharmaceutical company’s stock after buying an additional 355,759 shares during the period. State Street Corp’s holdings in Nektar Therapeutics were worth $4,349,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Samlyn Capital LLC acquired a new position in shares of Nektar Therapeutics in the 2nd quarter worth $11,728,000. Eventide Asset Management LLC raised its holdings in Nektar Therapeutics by 24.8% during the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock worth $12,220,000 after buying an additional 1,870,904 shares during the period. Millennium Management LLC raised its holdings in Nektar Therapeutics by 56.1% during the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock worth $5,778,000 after buying an additional 1,674,924 shares during the period. Nantahala Capital Management LLC lifted its stake in Nektar Therapeutics by 66.0% during the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock valued at $5,096,000 after buying an additional 1,634,046 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Nektar Therapeutics in the second quarter worth about $1,037,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Insiders Place Their Bets

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 51,115 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value of $48,048.10. Following the transaction, the insider now directly owns 326,904 shares in the company, valued at $307,289.76. The trade was a 13.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Howard W. Robin sold 46,995 shares of the 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 sale, the chief executive officer now owns 1,195,710 shares in the company, valued at approximately $1,207,667.10. This trade represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,575 shares of company stock worth $149,878 over the last three months. 3.71% of the stock is currently owned by corporate insiders.

Nektar Therapeutics Trading Down 0.2 %

NKTR opened at $0.95 on Monday. The stock’s 50 day simple moving average is $1.14 and its 200-day simple moving average is $1.22. The stock has a market cap of $175.09 million, a PE ratio of -1.13 and a beta of 0.57. Nektar Therapeutics has a 1 year low of $0.48 and a 1 year high of $1.93.

Analysts Set New Price Targets

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

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.