Nektar Therapeutics’ (NKTR) Buy Rating Reiterated at HC Wainwright

HC Wainwright restated their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $6.50 target price on the biopharmaceutical company’s stock.

A number of other analysts have also recently weighed in on the stock. Piper Sandler started coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 target price on the stock. B. Riley assumed coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price objective 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’s stock. According to MarketBeat, Nektar Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $4.08.

Nektar Therapeutics Trading Up 2.1 %

NKTR opened at $0.80 on Tuesday. The company has a market cap of $146.87 million, a P/E ratio of -0.95 and a beta of 0.58. The company’s 50 day moving average is $0.91 and its 200-day moving average is $1.11. Nektar Therapeutics has a 1-year low of $0.65 and a 1-year high of $1.93.

Insider Buying and Selling

In other Nektar Therapeutics news, insider Mark Andrew Wilson sold 33,402 shares of Nektar Therapeutics stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.90, for a total transaction of $30,061.80. Following the transaction, the insider now directly owns 351,892 shares of the company’s stock, valued at approximately $316,702.80. The trade was a 8.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Howard W. Robin sold 46,995 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the sale, the chief executive officer now owns 1,195,710 shares in the company, valued at $1,207,667.10. This trade represents a 3.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,586 shares of company stock valued at $159,990 over the last 90 days. 3.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC boosted its stake in shares of Nektar Therapeutics by 56.3% in 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 last quarter. Harvest Investment Services LLC acquired a new position in Nektar Therapeutics in the fourth quarter valued at $27,000. US Asset Management LLC acquired a new position in Nektar Therapeutics in the fourth quarter valued at $31,000. Valence8 US LP bought a new stake in Nektar Therapeutics during the third quarter valued at $34,000. Finally, Intech Investment Management LLC acquired a new stake in Nektar Therapeutics during the 3rd quarter worth about $41,000. 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.