Nektar Therapeutics (NASDAQ:NKTR) Raised to “Strong-Buy” at B. Riley

Nektar Therapeutics (NASDAQ:NKTR) was upgraded by research analysts at B. Riley to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other analysts have also commented on the stock. Piper Sandler began coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 price objective for the company. HC Wainwright assumed coverage on shares of Nektar Therapeutics in a research report on Tuesday, December 10th. They issued a “buy” rating and a $6.50 price target for the company. Finally, BTIG Research reiterated a “buy” rating and set 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, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $4.08.

Nektar Therapeutics Stock Down 4.2 %

Shares of Nektar Therapeutics stock opened at $1.14 on Tuesday. Nektar Therapeutics has a 12-month low of $0.48 and a 12-month high of $1.93. The firm has a market capitalization of $210.28 million, a PE ratio of -1.36 and a beta of 0.59. The stock’s fifty day moving average is $1.09 and its 200-day moving average is $1.21.

Insiders Place Their Bets

In related news, insider Mark Andrew Wilson sold 33,402 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $0.90, for a total transaction of $30,061.80. Following the transaction, the insider now owns 351,892 shares of the company’s stock, valued at approximately $316,702.80. This trade represents a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jonathan Zalevsky sold 51,115 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $0.94, for a total transaction of $48,048.10. Following the completion of the sale, the insider now directly owns 326,904 shares of the company’s stock, valued at $307,289.76. This represents a 13.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 155,575 shares of company stock worth $149,878 in the last quarter. 3.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Nektar Therapeutics

Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Nektar Therapeutics by 197.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 913,300 shares of the biopharmaceutical company’s stock valued at $1,187,000 after acquiring an additional 606,057 shares in the last quarter. Barclays PLC raised its holdings in Nektar Therapeutics by 96.1% in the 3rd quarter. Barclays PLC now owns 358,294 shares of the biopharmaceutical company’s stock worth $466,000 after acquiring an additional 175,596 shares during the period. XTX Topco Ltd bought a new stake in Nektar Therapeutics during the third quarter valued at about $46,000. Jane Street Group LLC grew its position in shares of 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 purchasing an additional 30,481 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Nektar Therapeutics in the third quarter worth about $615,000. 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.