Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) was the target of a significant growth in short interest during the month of January. As of January 31st, there was short interest totalling 5,760,000 shares, a growth of 22.0% from the January 15th total of 4,720,000 shares. Based on an average trading volume of 1,930,000 shares, the short-interest ratio is currently 3.0 days. Currently, 3.2% of the company's stock are sold short.
Insider Transactions at Nektar Therapeutics
In other news, CEO Howard W. Robin sold 46,995 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 directly owns 1,195,710 shares of the company's stock, valued at $1,207,667.10. This represents a 3.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan Zalevsky sold 51,115 shares of the business's stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $0.94, for a total value of $48,048.10. Following the sale, the insider now owns 326,904 shares of the company's stock, valued at $307,289.76. The trade was a 13.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 131,512 shares of company stock worth $125,575. Insiders own 3.71% of the company's stock.
Hedge Funds Weigh In On Nektar Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKTR. Two Sigma Securities LLC increased its position in shares of Nektar Therapeutics by 56.3% during the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 9,958 shares during the period. Harvest Investment Services LLC bought a new stake in shares of Nektar Therapeutics during the 4th quarter worth $27,000. US Asset Management LLC bought a new stake in shares of Nektar Therapeutics during the 4th quarter worth $31,000. Valence8 US LP acquired a new stake in shares of Nektar Therapeutics in the third quarter worth $34,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Nektar Therapeutics in the third quarter worth $41,000. 75.88% of the stock is owned by institutional investors.
Nektar Therapeutics Trading Down 5.7 %
NASDAQ NKTR traded down $0.06 on Wednesday, hitting $1.00. 3,404,244 shares of the stock traded hands, compared to its average volume of 2,492,157. The stock has a 50-day moving average of $0.92 and a 200 day moving average of $1.12. Nektar Therapeutics has a twelve month low of $0.63 and a twelve month high of $1.93. The company has a market capitalization of $184.46 million, a P/E ratio of -1.19 and a beta of 0.58.
Analyst Ratings Changes
A number of research firms have recently commented on NKTR. Piper Sandler began coverage on Nektar Therapeutics in a report on Monday, November 4th. They issued an "overweight" rating and a $7.00 price objective on the stock. B. Riley assumed coverage on Nektar Therapeutics in a report on Wednesday, January 8th. They issued a "buy" rating and a $4.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $6.50 price objective on shares of Nektar Therapeutics in a report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $4.08.
Read Our Latest Report on Nektar Therapeutics
About Nektar Therapeutics
(
Get Free Report)
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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