HC Wainwright Begins Coverage on Nektar Therapeutics (NASDAQ:NKTR)

Stock analysts at HC Wainwright initiated coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $6.50 price target on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued reports about the company. Piper Sandler began coverage on Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price for the company. BTIG Research reiterated a “buy” rating and issued a $4.00 price objective on shares of Nektar Therapeutics in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $4.10.

Nektar Therapeutics Price Performance

NKTR opened at $1.01 on Tuesday. The stock has a market capitalization of $186.30 million, a P/E ratio of -1.20 and a beta of 0.57. The company’s 50 day simple moving average is $1.24 and its 200-day simple moving average is $1.26. Nektar Therapeutics has a one year low of $0.46 and a one year high of $1.93.

Institutional Investors Weigh In On Nektar Therapeutics

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its position in shares of Nektar Therapeutics by 96.1% in the 3rd quarter. Barclays PLC now owns 358,294 shares of the biopharmaceutical company’s stock valued at $466,000 after buying an additional 175,596 shares in the last quarter. XTX Topco Ltd acquired a new position in Nektar Therapeutics in the third quarter valued at about $46,000. Jane Street Group LLC grew its stake in Nektar Therapeutics by 50.0% in the third quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 30,481 shares during the period. Wellington Management Group LLP bought a new stake in shares of Nektar Therapeutics in the third quarter worth about $615,000. Finally, State Street Corp lifted its holdings in shares of Nektar Therapeutics by 11.9% during the 3rd quarter. State Street Corp now owns 3,345,733 shares of the biopharmaceutical company’s stock valued at $4,349,000 after purchasing an additional 355,759 shares in the last quarter. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.