Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) CEO Sells $24,011.74 in Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 23,774 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $1.01, for a total value of $24,011.74. Following the transaction, the chief executive officer now directly owns 1,086,901 shares of the company’s stock, valued at approximately $1,097,770.01. This represents a 2.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Nektar Therapeutics Trading Down 2.6 %

Shares of NKTR opened at $0.93 on Monday. The company’s 50 day simple moving average is $0.92 and its 200-day simple moving average is $1.12. The firm has a market cap of $171.95 million, a PE ratio of -1.11 and a beta of 0.58. Nektar Therapeutics has a 12-month low of $0.63 and a 12-month high of $1.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NKTR. Two Sigma Securities LLC boosted its stake in shares of Nektar Therapeutics by 56.3% during the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 9,958 shares during the period. Harvest Investment Services LLC acquired a new stake in Nektar Therapeutics during the 4th quarter worth approximately $27,000. US Asset Management LLC purchased a new position in shares of Nektar Therapeutics in the 4th quarter valued at approximately $31,000. Valence8 US LP acquired a new position in shares of Nektar Therapeutics in the third quarter valued at approximately $34,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter worth approximately $41,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler started coverage on Nektar Therapeutics in a research note on Monday, November 4th. They set an “overweight” rating and a $7.00 target price for the company. B. Riley initiated coverage on shares of Nektar Therapeutics in a report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 target price for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $6.50 target price on shares of Nektar Therapeutics in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Nektar Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $4.08.

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.