Nektar Therapeutics (NASDAQ:NKTR) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $4.08.

Several equities research analysts have commented on the stock. Piper Sandler initiated coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 price target on the stock. B. Riley began coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.50 target price on shares of Nektar Therapeutics in a research note on Monday, January 13th.

Nektar Therapeutics Stock Up 10.1 %

NKTR stock opened at $0.73 on Friday. The firm’s 50-day simple moving average is $0.92 and its 200 day simple moving average is $1.13. The stock has a market cap of $134.66 million, a PE ratio of -0.87 and a beta of 0.58. Nektar Therapeutics has a fifty-two week low of $0.63 and a fifty-two week high of $1.93.

Insider Activity at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 51,115 shares of Nektar Therapeutics 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 transaction, the insider now directly owns 326,904 shares of the company’s stock, valued at $307,289.76. The trade was a 13.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Andrew Wilson sold 33,402 shares of the company’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 directly owns 351,892 shares of the company’s stock, valued at $316,702.80. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,575 shares of company stock worth $149,878 over the last quarter. 3.71% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in shares of Nektar Therapeutics by 10.4% in the 4th quarter. Wellington Management Group LLP now owns 522,409 shares of the biopharmaceutical company’s stock valued at $486,000 after purchasing an additional 49,319 shares during the period. JPMorgan Chase & Co. lifted its stake in Nektar Therapeutics by 29.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,182,995 shares of the biopharmaceutical company’s stock valued at $1,100,000 after buying an additional 269,695 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Nektar Therapeutics by 50.6% in the fourth quarter. Sei Investments Co. now owns 94,152 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 31,654 shares during the period. Monaco Asset Management SAM increased its position in shares of Nektar Therapeutics by 1.8% in the fourth quarter. Monaco Asset Management SAM now owns 2,032,868 shares of the biopharmaceutical company’s stock worth $1,891,000 after acquiring an additional 35,648 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Nektar Therapeutics by 12.3% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 730,875 shares of the biopharmaceutical company’s stock valued at $680,000 after acquiring an additional 80,034 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.