Analysts Set Nektar Therapeutics (NASDAQ:NKTR) Price Target at $4.08

Shares of Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven research firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $4.08.

A number of equities research analysts have recently issued reports on NKTR shares. BTIG Research reiterated a "buy" rating and issued a $4.00 target price on shares of Nektar Therapeutics in a research note on Monday, September 30th. B. Riley began coverage on Nektar Therapeutics in a research note on Wednesday, January 8th. They set a "buy" rating and a $4.00 price objective for the company. Piper Sandler started 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 restated a "buy" rating and issued a $6.50 price target on shares of Nektar Therapeutics in a research note on Monday.

Nektar Therapeutics Stock Performance

Nektar Therapeutics stock traded down $0.06 during midday trading on Tuesday, reaching $0.90. The stock had a trading volume of 1,111,712 shares, compared to its average volume of 1,911,873. Nektar Therapeutics has a twelve month low of $0.48 and a twelve month high of $1.93. The stock has a market capitalization of $166.01 million, a PE ratio of -1.07 and a beta of 0.59. The stock's 50-day simple moving average is $1.07 and its 200 day simple moving average is $1.21.

Insider Buying and Selling at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction on Tuesday, December 17th. The stock was 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 approximately $1,207,667.10. This represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark Andrew Wilson sold 33,402 shares of Nektar Therapeutics stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.90, for a total transaction of $30,061.80. Following the sale, the insider now owns 351,892 shares in the company, valued at approximately $316,702.80. This represents a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 155,575 shares of company stock valued at $149,878 in the last ninety days. Company insiders own 3.71% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Nektar Therapeutics by 2,822.5% in the second 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 in the last quarter. Nantahala Capital Management LLC boosted its holdings in Nektar Therapeutics by 66.0% during the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company's stock worth $5,096,000 after buying an additional 1,634,046 shares in the last quarter. Samlyn Capital LLC bought a new position in shares of Nektar Therapeutics in the second quarter valued at $11,728,000. Millennium Management LLC boosted its stake in shares of Nektar Therapeutics by 56.1% during the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company's stock worth $5,778,000 after acquiring an additional 1,674,924 shares in the last quarter. Finally, Eventide Asset Management LLC lifted its position in shares of Nektar Therapeutics by 24.8% in the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company's stock valued at $12,220,000 after acquiring an additional 1,870,904 shares in the last quarter. 75.88% of the stock is currently owned by 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.