Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) CEO Sells 46,995 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 46,995 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total transaction of $47,464.95. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Nektar Therapeutics Price Performance

Nektar Therapeutics stock opened at $0.94 on Friday. The stock has a market cap of $173.57 million, a price-to-earnings ratio of -1.12 and a beta of 0.57. The firm has a 50-day moving average of $1.19 and a two-hundred day moving average of $1.24. Nektar Therapeutics has a 1 year low of $0.46 and a 1 year high of $1.93.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on NKTR shares. 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 price target for the company. HC Wainwright initiated coverage on Nektar Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $6.50 target price for the company. Finally, BTIG Research reiterated a “buy” rating and issued a $4.00 price target on shares of Nektar Therapeutics in a report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.10.

Institutional Trading of Nektar Therapeutics

A number of large investors have recently modified their holdings of NKTR. SG Americas Securities LLC lifted its holdings in shares of Nektar Therapeutics by 63.0% in the 2nd quarter. SG Americas Securities LLC now owns 73,352 shares of the biopharmaceutical company’s stock worth $91,000 after buying an additional 28,338 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Nektar Therapeutics by 2,822.5% in the second quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock valued at $684,000 after acquiring an additional 532,663 shares in the last quarter. Rhumbline Advisers lifted its stake in Nektar Therapeutics by 3,377.0% in the second quarter. Rhumbline Advisers now owns 185,116 shares of the biopharmaceutical company’s stock worth $230,000 after acquiring an additional 179,792 shares during the period. Victory Capital Management Inc. bought a new position in Nektar Therapeutics during the 2nd quarter worth about $29,000. Finally, Candriam S.C.A. purchased a new position in Nektar Therapeutics during the 2nd quarter valued at about $99,000. Hedge funds and other 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.