Nektar Therapeutics (NASDAQ:NKTR) Given Average Recommendation of “Moderate Buy” by Brokerages

Nektar Therapeutics (NASDAQ:NKTR) has earned a consensus rating of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat.com reports. Two equities 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. The average 1-year price target among brokers that have issued a report on the stock in the last year is $4.08.

A number of research analysts have recently commented on the company. BTIG Research reiterated a “buy” rating and issued a $4.00 price target on shares of Nektar Therapeutics in a research note on Monday, September 30th. HC Wainwright reissued a “buy” rating and set a $6.50 price target on shares of Nektar Therapeutics in a research note on Monday. B. Riley started coverage on Nektar Therapeutics in a research note on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, Piper Sandler initiated coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 target price on the stock.

Insider Activity

In related news, insider Mark Andrew Wilson sold 33,402 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $0.90, for a total value of $30,061.80. Following the transaction, the insider now owns 351,892 shares in the company, valued at $316,702.80. The trade was a 8.67 % 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 dated 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 of the company’s stock, valued at approximately $1,207,667.10. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,575 shares of company stock valued at $149,878. Company insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NKTR. JPMorgan Chase & Co. grew its stake in Nektar Therapeutics by 197.3% during the third quarter. JPMorgan Chase & Co. now owns 913,300 shares of the biopharmaceutical company’s stock worth $1,187,000 after purchasing an additional 606,057 shares during the period. Barclays PLC boosted its holdings in shares of Nektar Therapeutics by 96.1% during the 3rd quarter. Barclays PLC now owns 358,294 shares of the biopharmaceutical company’s stock worth $466,000 after buying an additional 175,596 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Nektar Therapeutics during the 3rd quarter worth approximately $46,000. Jane Street Group LLC increased its stake in shares of Nektar Therapeutics by 50.0% in the 3rd quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 30,481 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in shares of Nektar Therapeutics during the 3rd quarter valued at $615,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Price Performance

NKTR stock opened at $0.96 on Tuesday. Nektar Therapeutics has a 1 year low of $0.48 and a 1 year high of $1.93. The stock has a market cap of $177.32 million, a price-to-earnings ratio of -1.14 and a beta of 0.59. The company has a 50 day simple moving average of $1.07 and a 200 day simple moving average of $1.21.

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.