Nektar Therapeutics (NASDAQ:NKTR) Upgraded at B. Riley

B. Riley upgraded shares of Nektar Therapeutics (NASDAQ:NKTR) to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also recently commented on NKTR. Piper Sandler initiated coverage on Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price on the stock. HC Wainwright began coverage on shares of Nektar Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $6.50 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 analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.08.

Nektar Therapeutics Trading Down 4.2 %

NKTR stock opened at $1.14 on Tuesday. Nektar Therapeutics has a 1-year low of $0.48 and a 1-year high of $1.93. The firm has a market cap of $210.28 million, a PE ratio of -1.36 and a beta of 0.59. The business’s 50-day moving average price is $1.09 and its two-hundred day moving average price is $1.21.

Insider Activity

In related news, CEO Howard W. Robin sold 46,995 shares of the business’s 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 transaction, the chief executive officer now directly owns 1,195,710 shares of the company’s stock, valued at approximately $1,207,667.10. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Wilson sold 33,402 shares of the stock in a transaction 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 completion of the sale, the insider now owns 351,892 shares in the company, valued at approximately $316,702.80. This trade represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 155,575 shares of company stock valued at $149,878 in the last quarter. Company insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

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

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.