HC Wainwright Reiterates Buy Rating for Nektar Therapeutics (NASDAQ:NKTR)

HC Wainwright reissued their buy rating on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research note issued to investors on Monday,Benzinga reports. They currently have a $6.50 price target on the biopharmaceutical company’s stock.

Other equities analysts also recently issued research reports about the stock. B. Riley assumed coverage on shares of Nektar Therapeutics in a report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price target on the stock. Piper Sandler assumed coverage on shares of Nektar Therapeutics in a report on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price for the company. Finally, BTIG Research reiterated a “buy” rating and issued a $4.00 price target on shares of Nektar Therapeutics in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Nektar Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $4.08.

Nektar Therapeutics Stock Up 0.6 %

NASDAQ NKTR opened at $0.91 on Monday. Nektar Therapeutics has a 52 week low of $0.48 and a 52 week high of $1.93. The company has a market capitalization of $166.99 million, a P/E ratio of -1.08 and a beta of 0.59. The stock’s 50-day moving average price is $1.06 and its 200-day moving average price is $1.21.

Insider Activity at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total transaction of $47,464.95. Following the completion of the transaction, the chief executive officer now owns 1,195,710 shares of the company’s stock, valued at $1,207,667.10. This represents a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Andrew Wilson sold 33,402 shares of Nektar Therapeutics stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.90, for a total value of $30,061.80. Following the completion of the sale, the insider now directly owns 351,892 shares in the company, valued at $316,702.80. This trade represents a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,575 shares of company stock valued at $149,878. Corporate insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NKTR. Bank of New York Mellon Corp raised its stake in Nektar Therapeutics by 2,822.5% during the second quarter. Bank of New York Mellon Corp now owns 551,535 shares of the biopharmaceutical company’s stock valued at $684,000 after purchasing an additional 532,663 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Nektar Therapeutics by 3,377.0% in the 2nd quarter. Rhumbline Advisers now owns 185,116 shares of the biopharmaceutical company’s stock worth $230,000 after buying an additional 179,792 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Nektar Therapeutics during the 2nd quarter valued at about $29,000. Samlyn Capital LLC bought a new position in shares of Nektar Therapeutics in the 2nd quarter valued at about $11,728,000. Finally, Armistice Capital LLC purchased a new position in Nektar Therapeutics in the second quarter worth about $1,037,000. 75.88% of the stock is currently owned by institutional investors.

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.