Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) CEO Sells 23,774 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 23,774 shares of Nektar Therapeutics stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $1.01, for a total transaction of $24,011.74. Following the sale, the chief executive officer now 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Nektar Therapeutics Stock Down 2.6 %

NASDAQ NKTR traded down $0.02 during trading on Friday, reaching $0.93. 1,217,794 shares of the stock traded hands, compared to its average volume of 2,430,165. The firm has a market cap of $171.95 million, a price-to-earnings ratio of -1.11 and a beta of 0.58. The stock’s 50-day moving average price is $0.92 and its 200 day moving average price is $1.12. Nektar Therapeutics has a fifty-two week low of $0.63 and a fifty-two week high of $1.93.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Two Sigma Securities LLC grew its holdings in Nektar Therapeutics by 56.3% during the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 9,958 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Nektar Therapeutics by 6.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 192,978 shares of the biopharmaceutical company’s stock valued at $180,000 after buying an additional 10,941 shares in the last quarter. SG Americas Securities LLC lifted its stake in Nektar Therapeutics by 12.2% in the fourth quarter. SG Americas Securities LLC now owns 107,318 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 11,681 shares in the last quarter. Northern Trust Corp lifted its stake in Nektar Therapeutics by 0.9% in the fourth quarter. Northern Trust Corp now owns 1,414,984 shares of the biopharmaceutical company’s stock valued at $1,316,000 after buying an additional 12,826 shares in the last quarter. Finally, Moloney Securities Asset Management LLC lifted its stake in Nektar Therapeutics by 42.4% in the fourth quarter. Moloney Securities Asset Management LLC now owns 50,000 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 14,895 shares in the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NKTR shares. Piper Sandler started coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 price target for the company. B. Riley started coverage on shares of Nektar Therapeutics in a research report on Wednesday, January 8th. They set a “buy” rating and a $4.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $6.50 price target on shares of Nektar Therapeutics in a research report on Monday, January 13th. Two 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 stock. Based on data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $4.08.

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.