William Blair Reaffirms “Market Perform” Rating for Nektar Therapeutics (NASDAQ:NKTR)

Nektar Therapeutics (NASDAQ:NKTR)‘s stock had its “market perform” rating reiterated by stock analysts at William Blair in a report issued on Tuesday,RTT News reports.

A number of other equities research analysts have also weighed in on the company. Piper Sandler began coverage on Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 price objective on the stock. B. Riley began coverage on Nektar Therapeutics in a research report on Wednesday, January 8th. They issued a “buy” rating and a $4.00 price objective on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.50 price objective on shares of Nektar Therapeutics in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.08.

Nektar Therapeutics Trading Up 7.6 %

Shares of NKTR stock traded up $0.06 during trading hours on Tuesday, reaching $0.91. The company’s stock had a trading volume of 1,521,548 shares, compared to its average volume of 2,399,573. The stock has a market capitalization of $167.67 million, a P/E ratio of -1.08 and a beta of 0.58. Nektar Therapeutics has a one year low of $0.65 and a one year high of $1.93. The firm’s fifty day simple moving average is $0.91 and its 200 day simple moving average is $1.11.

Insider Transactions at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 directly owns 1,195,710 shares of the company’s stock, valued at approximately $1,207,667.10. This represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Wilson sold 33,402 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $0.90, for a total value 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. The trade was a 8.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 165,586 shares of company stock worth $159,990 over the last quarter. 3.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nektar Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NKTR. Nantahala Capital Management LLC raised its position in Nektar Therapeutics by 90.0% during the fourth quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company’s stock valued at $7,263,000 after purchasing an additional 3,700,000 shares during the period. Woodline Partners LP raised its position in Nektar Therapeutics by 187.3% during the fourth quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company’s stock valued at $4,626,000 after purchasing an additional 3,242,841 shares during the period. Altium Capital Management LLC raised its position in Nektar Therapeutics by 26,172.0% during the fourth quarter. Altium Capital Management LLC now owns 3,000,000 shares of the biopharmaceutical company’s stock valued at $2,790,000 after purchasing an additional 2,988,581 shares during the period. 22NW LP purchased a new stake in Nektar Therapeutics during the fourth quarter valued at approximately $2,038,000. Finally, Eventide Asset Management LLC raised its position in Nektar Therapeutics by 24.8% during the third quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock valued at $12,220,000 after purchasing an additional 1,870,904 shares during the period. 75.88% of the stock is currently owned by hedge funds and other 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.