William Blair Reaffirms Market Perform Rating for Nektar Therapeutics (NASDAQ:NKTR)

William Blair reiterated their market perform rating on shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) in a research note issued to investors on Tuesday,RTT News reports.

Several other research analysts have also issued reports on NKTR. Piper Sandler began coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They issued an "overweight" rating and a $7.00 price target for the company. B. Riley assumed coverage on Nektar Therapeutics in a report on Wednesday, January 8th. They issued a "buy" rating and a $4.00 target price for the company. Finally, HC Wainwright restated a "buy" rating and set a $6.50 target price on shares of Nektar Therapeutics in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.08.

Nektar Therapeutics Stock Up 5.9 %

Nektar Therapeutics stock traded up $0.05 on Tuesday, hitting $0.84. The company's stock had a trading volume of 1,159,686 shares, compared to its average volume of 2,373,292. Nektar Therapeutics has a one year low of $0.65 and a one year high of $1.93. The firm has a market cap of $155.50 million, a P/E ratio of -1.00 and a beta of 0.58. The company has a fifty day moving average price of $0.90 and a 200-day moving average price of $1.11.

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Insider Transactions 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 transaction of $47,464.95. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 value of $30,061.80. Following the completion of the transaction, the insider now directly owns 351,892 shares of the company's stock, valued at $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 have sold 165,586 shares of company stock valued at $159,990 in the last three months. 3.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Nektar Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC raised its stake in shares of Nektar Therapeutics by 56.3% in the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 9,958 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Nektar Therapeutics by 6.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 192,978 shares of the biopharmaceutical company's stock valued at $180,000 after buying an additional 10,941 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Nektar Therapeutics by 12.2% in the 4th quarter. SG Americas Securities LLC now owns 107,318 shares of the biopharmaceutical company's stock valued at $100,000 after buying an additional 11,681 shares during the period. Northern Trust Corp raised its position in shares of Nektar Therapeutics by 0.9% during the fourth quarter. Northern Trust Corp now owns 1,414,984 shares of the biopharmaceutical company's stock worth $1,316,000 after acquiring an additional 12,826 shares during the last quarter. Finally, Moloney Securities Asset Management LLC lifted its stake in shares of Nektar Therapeutics by 42.4% during the fourth quarter. Moloney Securities Asset Management LLC now owns 50,000 shares of the biopharmaceutical company's stock valued at $46,000 after acquiring an additional 14,895 shares during the period. Institutional investors own 75.88% of the company's stock.

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.