Howard W. Robin Sells 16,278 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 16,278 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $1.01, for a total transaction of $16,440.78. Following the sale, the chief executive officer now owns 832,080 shares of the company’s stock, valued at approximately $840,400.80. The trade was a 1.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nektar Therapeutics Trading Up 2.5 %

Shares of NASDAQ NKTR opened at $1.04 on Friday. Nektar Therapeutics has a 12-month low of $0.42 and a 12-month high of $1.93. The company has a market cap of $190.92 million, a PE ratio of -1.20 and a beta of 0.61. The stock has a 50 day simple moving average of $1.28 and a 200-day simple moving average of $1.32.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. BTIG Research reaffirmed a “buy” rating and issued a $4.00 price target on shares of Nektar Therapeutics in a report on Monday, September 30th. Piper Sandler assumed coverage on Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $3.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in shares of Nektar Therapeutics by 2,822.5% during the second quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock valued at $684,000 after purchasing an additional 532,663 shares during the period. Nantahala Capital Management LLC increased its stake in 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 valued at $5,096,000 after buying an additional 1,634,046 shares during the period. Samlyn Capital LLC bought a new stake in shares of Nektar Therapeutics during the 2nd quarter worth about $11,728,000. Millennium Management LLC raised its position in shares of 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 in the last quarter. Finally, Armistice Capital LLC acquired a new stake in shares of Nektar Therapeutics in the 2nd quarter worth approximately $1,037,000. 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.