Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin Sells 46,995 Shares

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction dated 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 directly owns 1,195,710 shares in the company, valued at $1,207,667.10. This trade represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Nektar Therapeutics Price Performance

Shares of NKTR stock traded up $0.02 on Thursday, hitting $0.94. The stock had a trading volume of 1,638,599 shares, compared to its average volume of 1,795,579. The company’s 50 day moving average price is $1.19 and its 200-day moving average price is $1.24. Nektar Therapeutics has a 1 year low of $0.46 and a 1 year high of $1.93. The firm has a market capitalization of $173.57 million, a P/E ratio of -1.12 and a beta of 0.57.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. BTIG Research restated a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a report on Monday, September 30th. Piper Sandler initiated coverage on Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 target price for the company. Finally, HC Wainwright began coverage on Nektar Therapeutics in a research note on Tuesday, December 10th. They issued a “buy” rating and a $6.50 price target on the stock. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.10.

Institutional Trading of Nektar Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its stake in shares of Nektar Therapeutics by 63.0% in the second quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock valued at $91,000 after acquiring an additional 28,338 shares in the last quarter. Bank of New York Mellon Corp raised its position in Nektar Therapeutics by 2,822.5% in the 2nd 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 in the last quarter. Rhumbline Advisers boosted its stake in shares of Nektar Therapeutics by 3,377.0% in the 2nd quarter. Rhumbline Advisers now owns 185,116 shares of the biopharmaceutical company’s stock valued at $230,000 after buying an additional 179,792 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Nektar Therapeutics during the second quarter worth about $29,000. Finally, Candriam S.C.A. purchased a new stake in shares of Nektar Therapeutics during the second quarter worth approximately $99,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

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.