Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) Insider Sells $30,061.80 in Stock

Nektar Therapeutics (NASDAQ:NKTR) insider Mark Andrew Wilson sold 33,402 shares of the business’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 directly owns 351,892 shares of the company’s stock, valued at approximately $316,702.80. This represents a 8.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Nektar Therapeutics Stock Performance

Shares of NASDAQ:NKTR opened at $0.95 on Friday. The firm has a fifty day moving average of $1.14 and a 200 day moving average of $1.22. Nektar Therapeutics has a 52-week low of $0.48 and a 52-week high of $1.93. The firm has a market capitalization of $175.09 million, a PE ratio of -1.13 and a beta of 0.57.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NKTR shares. BTIG Research restated a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a research report on Monday, September 30th. Piper Sandler started coverage on Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 target price for the company. Finally, HC Wainwright began coverage on Nektar Therapeutics in a report on Tuesday, December 10th. They issued a “buy” rating and a $6.50 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.10.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in shares of Nektar Therapeutics during the 2nd quarter valued at about $29,000. Valence8 US LP purchased a new position in shares of Nektar Therapeutics during the third quarter worth approximately $34,000. Intech Investment Management LLC bought a new stake in shares of Nektar Therapeutics in the 3rd quarter worth approximately $41,000. XTX Topco Ltd purchased a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at $46,000. Finally, Erste Asset Management GmbH bought a new position in shares of Nektar Therapeutics during the 3rd quarter valued at $61,000. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

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.