Howard W. Robin Sells 23,774 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 23,774 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $1.01, for a total transaction of $24,011.74. Following the completion of the sale, the chief executive officer now owns 1,086,901 shares in the company, valued at $1,097,770.01. This represents a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Nektar Therapeutics Price Performance

Shares of NASDAQ:NKTR opened at $0.93 on Friday. The business’s fifty day moving average price is $0.92 and its two-hundred day moving average price is $1.12. Nektar Therapeutics has a fifty-two week low of $0.63 and a fifty-two week high of $1.93. The stock has a market capitalization of $171.95 million, a price-to-earnings ratio of -1.11 and a beta of 0.58.

Institutional Investors Weigh In On Nektar Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Two Sigma Securities LLC boosted its position in Nektar Therapeutics by 56.3% in the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 9,958 shares in the last quarter. Harvest Investment Services LLC acquired a new position in shares of Nektar Therapeutics in the 4th quarter worth approximately $27,000. US Asset Management LLC bought a new stake in Nektar Therapeutics during the 4th quarter worth approximately $31,000. Valence8 US LP acquired a new stake in Nektar Therapeutics during the 3rd quarter valued at $34,000. Finally, Intech Investment Management LLC acquired a new stake in Nektar Therapeutics during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NKTR. Piper Sandler initiated coverage on Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $6.50 target price on shares of Nektar Therapeutics in a research note on Monday, January 13th. Finally, B. Riley initiated coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 target price for the company. Two 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.