Peapod Lane Capital LLC Makes New $1.03 Million Investment in Nektar Therapeutics (NASDAQ:NKTR)

Peapod Lane Capital LLC bought a new position in shares of Nektar Therapeutics (NASDAQ:NKTR) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 1,107,516 shares of the biopharmaceutical company’s stock, valued at approximately $1,030,000. Peapod Lane Capital LLC owned 0.60% of Nektar Therapeutics at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in Nektar Therapeutics by 30.4% in the third quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock worth $124,000 after acquiring an additional 22,285 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Nektar Therapeutics by 5.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 650,841 shares of the biopharmaceutical company’s stock worth $846,000 after purchasing an additional 34,599 shares during the period. Intech Investment Management LLC purchased a new position in Nektar Therapeutics in the third quarter valued at approximately $41,000. Valence8 US LP bought a new position in Nektar Therapeutics during the third quarter valued at $34,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Nektar Therapeutics in the third quarter valued at $86,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 51,115 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value of $48,048.10. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Andrew Wilson sold 33,402 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $0.90, for a total transaction of $30,061.80. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 155,575 shares of company stock worth $149,878 in the last three months. Corporate insiders own 3.71% of the company’s stock.

Nektar Therapeutics Stock Up 10.1 %

Nektar Therapeutics stock opened at $0.73 on Thursday. Nektar Therapeutics has a 1-year low of $0.63 and a 1-year high of $1.93. The firm’s 50 day simple moving average is $0.92 and its 200 day simple moving average is $1.13.

Wall Street Analysts Forecast Growth

NKTR has been the subject of several research reports. HC Wainwright reiterated a “buy” rating and set a $6.50 price target on shares of Nektar Therapeutics in a research note on Monday, January 13th. Piper Sandler began coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 target price for the company. Finally, B. Riley assumed coverage on shares of Nektar Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price target on the stock. Two 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.08.

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.