StockNews.com Initiates Coverage on Nektar Therapeutics (NASDAQ:NKTR)

StockNews.com assumed coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a report released on Friday. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other research analysts also recently weighed in on NKTR. Mizuho restated a neutral rating and issued a $6.00 target price on shares of Nektar Therapeutics in a research note on Monday, August 7th. TD Cowen upgraded shares of Nektar Therapeutics from a market perform rating to an outperform rating in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of Hold and an average price target of $3.00.

Nektar Therapeutics Stock Performance

NASDAQ:NKTR opened at $0.52 on Friday. The firm has a market cap of $99.20 million, a price-to-earnings ratio of -0.33 and a beta of 0.88. Nektar Therapeutics has a one year low of $0.41 and a one year high of $3.50. The firm’s fifty day moving average is $0.55 and its two-hundred day moving average is $0.61.

Institutional Trading of Nektar Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new position in Nektar Therapeutics in the third quarter valued at $36,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Nektar Therapeutics by 0.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,904,745 shares of the biopharmaceutical company’s stock worth $2,921,000 after purchasing an additional 34,267 shares in the last quarter. RA Capital Management L.P. bought a new stake in Nektar Therapeutics in the third quarter worth approximately $11,138,000. GSA Capital Partners LLP lifted its holdings in Nektar Therapeutics by 931.5% during the 3rd quarter. GSA Capital Partners LLP now owns 1,841,078 shares of the biopharmaceutical company’s stock valued at $1,097,000 after purchasing an additional 1,662,589 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in Nektar Therapeutics by 29.9% during the third quarter. AQR Capital Management LLC now owns 3,666,264 shares of the biopharmaceutical company’s stock valued at $2,184,000 after purchasing an additional 844,644 shares during the period. Institutional investors and hedge funds own 82.20% 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 1B clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1/2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer squamous cell carcinoma and colorectal cancer.