Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) Insider Sells 33,402 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) insider Mark Andrew Wilson sold 33,402 shares of the 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 directly 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Nektar Therapeutics Price Performance

Shares of NASDAQ:NKTR traded up $0.04 during mid-day trading on Thursday, reaching $0.95. 1,090,568 shares of the company traded hands, compared to its average volume of 1,787,199. The company's 50 day moving average price is $1.14 and its 200-day moving average price is $1.22. The firm has a market cap of $175.46 million, a PE ratio of -1.13 and a beta of 0.57. Nektar Therapeutics has a 52 week low of $0.48 and a 52 week high of $1.93.

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds have recently modified their holdings of NKTR. SG Americas Securities LLC raised its position in shares of Nektar Therapeutics by 30.4% during the 3rd quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company's stock valued at $124,000 after purchasing an additional 22,285 shares during the period. Victory Capital Management Inc. purchased a new position in Nektar Therapeutics in the 2nd quarter worth approximately $29,000. Valence8 US LP bought a new position in Nektar Therapeutics in the 3rd quarter worth approximately $34,000. Jane Street Group LLC grew its holdings in Nektar Therapeutics by 50.0% during the 3rd quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company's stock valued at $119,000 after buying an additional 30,481 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $41,000. 75.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. BTIG Research reissued a "buy" rating and issued a $4.00 target price on shares of Nektar Therapeutics in a report on Monday, September 30th. Piper Sandler started coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They issued an "overweight" rating and a $7.00 price objective on the stock. Finally, HC Wainwright assumed coverage on shares of Nektar Therapeutics in a report on Tuesday, December 10th. They set a "buy" rating and a $6.50 target price for the company. Three equities 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, Nektar Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $4.10.

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.