Nektar Therapeutics (NASDAQ:NKTR) CEO Sells $24,011.74 in Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 23,774 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $1.01, for a total transaction of $24,011.74. Following the transaction, the chief executive officer now owns 1,086,901 shares in the company, valued at $1,097,770.01. The trade was a 2.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Nektar Therapeutics Stock Performance

Shares of Nektar Therapeutics stock opened at $0.93 on Friday. The firm has a fifty day moving average of $0.92 and a two-hundred day moving average of $1.12. The stock has a market capitalization of $171.95 million, a price-to-earnings ratio of -1.11 and a beta of 0.58. Nektar Therapeutics has a 52 week low of $0.63 and a 52 week high of $1.93.

Analyst Upgrades and Downgrades

NKTR has been the subject of several research analyst reports. Piper Sandler began coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $6.50 target price on shares of Nektar Therapeutics in a research report on Monday, January 13th. Finally, B. Riley assumed coverage on Nektar Therapeutics in a report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price target on the stock. Two analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Nektar Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $4.08.

Institutional Investors Weigh In On Nektar Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Eventide Asset Management LLC increased its holdings in shares of 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. Nantahala Capital Management LLC increased its position in shares of Nektar Therapeutics by 90.0% in the fourth quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company’s stock valued at $7,263,000 after acquiring an additional 3,700,000 shares during the last quarter. Woodline Partners LP increased its position in shares of Nektar Therapeutics by 187.3% during the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock worth $4,626,000 after purchasing an additional 3,242,841 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Nektar Therapeutics by 17.5% during the 4th quarter. Renaissance Technologies LLC now owns 3,910,786 shares of the biopharmaceutical company’s stock worth $3,637,000 after purchasing an additional 583,153 shares in the last quarter. Finally, State Street Corp raised 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 in the last quarter. 75.88% of the stock is owned by institutional investors and hedge funds.

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.