Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) CEO Sells 46,995 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 46,995 shares of Nektar Therapeutics stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $1.01, for a total value of $47,464.95. Following the completion of the transaction, the chief executive officer now owns 1,195,710 shares in the company, valued at approximately $1,207,667.10. This represents a 3.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Nektar Therapeutics Stock Performance

Shares of NASDAQ:NKTR opened at $0.93 on Friday. Nektar Therapeutics has a 52 week low of $0.46 and a 52 week high of $1.93. The firm has a market cap of $171.23 million, a PE ratio of -1.11 and a beta of 0.57. The firm’s fifty day moving average is $1.19 and its 200-day moving average is $1.24.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NKTR shares. Piper Sandler started coverage on shares of Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 price target on the stock. HC Wainwright assumed coverage on shares of Nektar Therapeutics in a research note on Tuesday, December 10th. They set a “buy” rating and a $6.50 target price on the stock. 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.10.

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.