Nektar Therapeutics (NASDAQ:NKTR) Shares Acquired by State Street Corp

State Street Corp raised its stake in Nektar Therapeutics (NASDAQ:NKTR) by 11.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,345,733 shares of the biopharmaceutical company’s stock after buying an additional 355,759 shares during the quarter. State Street Corp owned about 1.81% of Nektar Therapeutics worth $4,349,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Samlyn Capital LLC purchased a new stake in Nektar Therapeutics in the second quarter valued at approximately $11,728,000. Eventide Asset Management LLC boosted its position in Nektar Therapeutics by 24.8% in the 3rd quarter. Eventide Asset Management LLC now owns 9,400,000 shares of the biopharmaceutical company’s stock valued at $12,220,000 after buying an additional 1,870,904 shares during the period. Millennium Management LLC increased its position in shares of Nektar Therapeutics by 56.1% during the second quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock worth $5,778,000 after acquiring an additional 1,674,924 shares during the period. Nantahala Capital Management LLC raised its stake in shares of Nektar Therapeutics by 66.0% in the second quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock valued at $5,096,000 after acquiring an additional 1,634,046 shares in the last quarter. Finally, Armistice Capital LLC purchased a new position in Nektar Therapeutics in the second quarter valued at $1,037,000. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Howard W. Robin sold 46,995 shares of the firm’s stock in a transaction 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 in the company, valued at $1,207,667.10. This trade represents a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Andrew Wilson sold 33,402 shares of Nektar Therapeutics 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 completion of the transaction, the insider now 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 have sold a total of 155,575 shares of company stock worth $149,878 over the last quarter. 3.71% of the stock is owned by corporate insiders.

Nektar Therapeutics Stock Down 0.2 %

Shares of NASDAQ:NKTR opened at $0.95 on Monday. The company has a market cap of $175.09 million, a P/E ratio of -1.13 and a beta of 0.57. The business has a fifty day simple moving average of $1.14 and a 200-day simple moving average of $1.22. Nektar Therapeutics has a 52 week low of $0.48 and a 52 week high of $1.93.

Wall Street Analyst Weigh In

NKTR has been the topic of several recent research reports. HC Wainwright started coverage on Nektar Therapeutics in a report on Tuesday, December 10th. They set a “buy” rating and a $6.50 price target on the stock. Piper Sandler initiated coverage on shares of Nektar Therapeutics in a report on Monday, November 4th. They set an “overweight” rating and a $7.00 price target for the company. Finally, BTIG Research reiterated a “buy” rating and set a $4.00 target price on shares of Nektar Therapeutics in a research note on Monday, September 30th. Three research analysts have rated the stock with a hold rating and four have given 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.

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.