Howard W. Robin Sells 16,278 Shares of Nektar Therapeutics (NASDAQ:NKTR) Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 16,278 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $1.01, for a total value of $16,440.78. Following the completion of the sale, the chief executive officer now directly owns 832,080 shares of the company’s stock, valued at approximately $840,400.80. This represents a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Nektar Therapeutics Stock Performance

Nektar Therapeutics stock traded down $0.03 during trading hours on Wednesday, reaching $1.00. 1,485,696 shares of the company’s stock traded hands, compared to its average volume of 1,755,314. Nektar Therapeutics has a fifty-two week low of $0.42 and a fifty-two week high of $1.93. The firm’s 50 day moving average is $1.28 and its 200-day moving average is $1.32. The firm has a market capitalization of $184.46 million, a price-to-earnings ratio of -1.19 and a beta of 0.61.

Hedge Funds Weigh In On Nektar Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in NKTR. Samlyn Capital LLC acquired a new position in Nektar Therapeutics during the 2nd quarter worth approximately $11,728,000. Eventide Asset Management LLC boosted its holdings in shares of Nektar Therapeutics by 24.8% in the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock valued at $12,220,000 after buying an additional 1,870,904 shares during the last quarter. Millennium Management LLC grew its stake in shares of Nektar Therapeutics by 56.1% in the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock valued at $5,778,000 after buying an additional 1,674,924 shares in the last quarter. Nantahala Capital Management LLC lifted its position in shares of Nektar Therapeutics by 66.0% in the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock valued at $5,096,000 after buying an additional 1,634,046 shares during the last quarter. Finally, Armistice Capital LLC acquired a new position in Nektar Therapeutics in the 2nd quarter valued at $1,037,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Analyst Upgrades and Downgrades

NKTR has been the topic of several analyst reports. BTIG Research reissued a “buy” rating and set a $4.00 target price on shares of Nektar Therapeutics in a research report on Monday, September 30th. Piper Sandler assumed coverage on Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $3.50.

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.