Nektar Therapeutics (NASDAQ:NKTR) Now Covered by Analysts at B. Riley

Investment analysts at B. Riley began coverage on shares of Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set a "buy" rating and a $4.00 price target on the biopharmaceutical company's stock. B. Riley's price target suggests a potential upside of 250.88% from the company's current price.

Other equities research analysts also recently issued reports about the company. Piper Sandler started coverage on Nektar Therapeutics in a report on Monday, November 4th. They set an "overweight" rating and a $7.00 target price on the stock. BTIG Research restated a "buy" rating and issued a $4.00 target price on shares of Nektar Therapeutics in a research note on Monday, September 30th. Finally, HC Wainwright initiated coverage on shares of Nektar Therapeutics in a research note on Tuesday, December 10th. They set a "buy" rating and a $6.50 price target on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $4.08.

Nektar Therapeutics Price Performance

NASDAQ NKTR traded down $0.05 during trading hours on Wednesday, hitting $1.14. The company had a trading volume of 1,843,848 shares, compared to its average volume of 2,146,048. The firm's 50 day moving average is $1.09 and its 200 day moving average is $1.21. Nektar Therapeutics has a fifty-two week low of $0.48 and a fifty-two week high of $1.93. The company has a market capitalization of $210.28 million, a price-to-earnings ratio of -1.36 and a beta of 0.59.

Insider Buying and Selling at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jonathan Zalevsky sold 51,115 shares of the stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $0.94, for a total transaction of $48,048.10. Following the sale, the insider now directly owns 326,904 shares in the company, valued at $307,289.76. This trade represents a 13.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,575 shares of company stock worth $149,878 in the last ninety days. 3.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. bought a new position in Nektar Therapeutics in the second quarter worth about $29,000. Valence8 US LP acquired a new stake in shares of Nektar Therapeutics during the 3rd quarter worth approximately $34,000. Intech Investment Management LLC acquired a new position in Nektar Therapeutics during the 3rd quarter valued at approximately $41,000. XTX Topco Ltd acquired a new position in Nektar Therapeutics during the 3rd quarter valued at approximately $46,000. Finally, Erste Asset Management GmbH bought a new position in Nektar Therapeutics during the 3rd quarter worth $61,000. 75.88% of the stock is owned by institutional investors and hedge funds.

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.