Nektar Therapeutics (NASDAQ:NKTR) Given “Buy” Rating at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report released on Tuesday,Benzinga reports. They currently have a $6.50 price target on the biopharmaceutical company’s stock.

Several other analysts also recently commented on NKTR. B. Riley initiated coverage on Nektar Therapeutics in a research note on Wednesday, January 8th. They issued a “buy” rating and a $4.00 target price for the company. Piper Sandler began coverage on Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 price objective for the company. Two research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.08.

Nektar Therapeutics Trading Up 2.1 %

NASDAQ:NKTR opened at $0.80 on Tuesday. Nektar Therapeutics has a 12 month low of $0.65 and a 12 month high of $1.93. The stock has a market capitalization of $146.87 million, a price-to-earnings ratio of -0.95 and a beta of 0.58. The firm has a fifty day simple moving average of $0.91 and a two-hundred day simple moving average of $1.11.

Insider Transactions at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $1.01, for a total transaction of $47,464.95. Following the transaction, the chief executive officer now owns 1,195,710 shares of the company’s stock, valued at $1,207,667.10. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Wilson sold 33,402 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.90, for a total value of $30,061.80. Following the sale, the insider now owns 351,892 shares of the company’s stock, valued at $316,702.80. This trade represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,586 shares of company stock valued at $159,990 over the last three months. Corporate insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

Several large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its holdings in shares of Nektar Therapeutics by 801.4% in the fourth quarter. Mackenzie Financial Corp now owns 469,769 shares of the biopharmaceutical company’s stock valued at $437,000 after purchasing an additional 417,651 shares during the last quarter. US Asset Management LLC bought a new stake in Nektar Therapeutics in the 4th quarter worth about $31,000. Woodline Partners LP increased its stake in Nektar Therapeutics by 187.3% in the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock valued at $4,626,000 after buying an additional 3,242,841 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Nektar Therapeutics in the 4th quarter valued at about $130,000. Finally, Two Sigma Investments LP lifted its position in shares of Nektar Therapeutics by 12.8% during the 4th quarter. Two Sigma Investments LP now owns 1,537,355 shares of the biopharmaceutical company’s stock worth $1,430,000 after buying an additional 174,185 shares in the last quarter. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Company Profile

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.