Nektar Therapeutics (NASDAQ:NKTR) Shares Purchased by HB Wealth Management LLC

HB Wealth Management LLC increased its stake in Nektar Therapeutics (NASDAQ:NKTR) by 44.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 64,100 shares of the biopharmaceutical company’s stock after acquiring an additional 19,600 shares during the quarter. HB Wealth Management LLC’s holdings in Nektar Therapeutics were worth $60,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Valence8 US LP purchased a new position in Nektar Therapeutics in the 3rd quarter valued at about $34,000. Intech Investment Management LLC purchased a new position in shares of Nektar Therapeutics in the third quarter valued at approximately $41,000. XTX Topco Ltd acquired a new stake in shares of Nektar Therapeutics in the third quarter worth approximately $46,000. Erste Asset Management GmbH purchased a new stake in shares of Nektar Therapeutics during the third quarter worth approximately $61,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Nektar Therapeutics in the 3rd quarter valued at $86,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on NKTR. B. Riley initiated 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 on the stock. BTIG Research restated a “buy” rating and set a $4.00 target price on shares of Nektar Therapeutics in a report on Monday, September 30th. Piper Sandler assumed coverage on Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 price target for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $6.50 price objective on shares of Nektar Therapeutics in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.08.

Nektar Therapeutics Stock Performance

NKTR opened at $0.88 on Friday. The stock has a market capitalization of $163.23 million, a PE ratio of -1.05 and a beta of 0.59. Nektar Therapeutics has a one year low of $0.50 and a one year high of $1.93. The business’s 50 day moving average price is $1.00 and its 200 day moving average price is $1.19.

Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.05. The business had revenue of $24.12 million during the quarter, compared to analysts’ expectations of $15.54 million. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. During the same period in the prior year, the business posted ($0.19) EPS. As a group, equities research analysts forecast that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nektar Therapeutics news, insider Mark Andrew Wilson sold 33,402 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $0.90, for a total transaction of $30,061.80. Following the sale, the insider now directly owns 351,892 shares in the company, valued at $316,702.80. This represents a 8.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard W. Robin sold 46,995 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $1.01, for a total transaction of $47,464.95. Following the sale, the chief executive officer now directly owns 1,195,710 shares in the company, valued at $1,207,667.10. This represents a 3.78 % 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 over the last 90 days. 3.71% of the stock is owned by company insiders.

About Nektar Therapeutics

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.