Nektar Therapeutics (NASDAQ:NKTR) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.10.

A number of equities analysts recently commented on NKTR shares. Piper Sandler began coverage on Nektar Therapeutics in a report on Monday, November 4th. They set an "overweight" rating and a $7.00 price target for the company. HC Wainwright started coverage on shares of Nektar Therapeutics in a report on Tuesday, December 10th. They issued a "buy" rating and a $6.50 price target on the stock. Finally, BTIG Research reissued a "buy" rating and set a $4.00 price target on shares of Nektar Therapeutics in a report on Monday, September 30th.

Insiders Place Their Bets

In related news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total transaction of $47,464.95. Following the completion of the transaction, the chief executive officer now owns 1,195,710 shares in the company, valued at approximately $1,207,667.10. This represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 71,058 shares of company stock worth $71,769. Insiders own 3.71% of the company's stock.

Hedge Funds Weigh In On Nektar Therapeutics

Several hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Nektar Therapeutics by 2,822.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company's stock worth $684,000 after acquiring an additional 532,663 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Nektar Therapeutics by 66.0% during the 2nd 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. Samlyn Capital LLC purchased a new position in shares of Nektar Therapeutics during the 2nd quarter valued at about $11,728,000. Millennium Management LLC lifted its position in Nektar Therapeutics by 56.1% in the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company's stock worth $5,778,000 after buying an additional 1,674,924 shares during the last quarter. Finally, Eventide Asset Management LLC boosted its stake in Nektar Therapeutics by 24.8% in the third quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company's stock worth $12,220,000 after buying an additional 1,870,904 shares in the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Nektar Therapeutics Price Performance

NKTR traded down $0.01 during trading on Friday, reaching $0.93. The company had a trading volume of 1,787,229 shares, compared to its average volume of 1,795,548. Nektar Therapeutics has a 12 month low of $0.46 and a 12 month high of $1.93. The business's fifty day moving average price is $1.19 and its 200 day moving average price is $1.24. The company has a market cap of $171.23 million, a P/E ratio of -1.11 and a beta of 0.57.

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.