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

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) CEO Howard W. Robin sold 46,995 shares of the business's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the transaction, the chief executive officer now directly owns 1,195,710 shares of the company's stock, valued at approximately $1,207,667.10. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Nektar Therapeutics Stock Performance

Shares of NKTR traded up $0.02 during mid-day trading on Thursday, hitting $0.94. 1,638,599 shares of the company were exchanged, compared to its average volume of 1,795,579. Nektar Therapeutics has a 1-year low of $0.46 and a 1-year high of $1.93. The stock has a market cap of $173.57 million, a price-to-earnings ratio of -1.12 and a beta of 0.57. The company has a 50 day moving average of $1.19 and a 200-day moving average of $1.24.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NKTR. BTIG Research reissued a "buy" rating and issued a $4.00 price target on shares of Nektar Therapeutics in a report on Monday, September 30th. HC Wainwright initiated coverage on shares of Nektar Therapeutics in a research note on Tuesday, December 10th. They issued a "buy" rating and a $6.50 target price for the company. Finally, Piper Sandler started coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They set an "overweight" rating and a $7.00 price target on the stock. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $4.10.

Institutional Trading of Nektar Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Samlyn Capital LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter worth $11,728,000. Eventide Asset Management LLC boosted its holdings in shares of Nektar Therapeutics by 24.8% during the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company's stock worth $12,220,000 after purchasing an additional 1,870,904 shares during the last quarter. Millennium Management LLC grew its position in shares of Nektar Therapeutics by 56.1% in the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company's stock valued at $5,778,000 after purchasing an additional 1,674,924 shares in the last quarter. Nantahala Capital Management LLC increased its holdings in shares of Nektar Therapeutics by 66.0% in the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company's stock valued at $5,096,000 after purchasing an additional 1,634,046 shares during the last quarter. Finally, State Street Corp lifted its position in Nektar Therapeutics by 11.9% during the third quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company's stock worth $4,349,000 after buying 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.

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