Nektar Therapeutics (NASDAQ:NKTR) Upgraded by William Blair to Outperform Rating

Nektar Therapeutics (NASDAQ:NKTR) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday.

NKTR has been the subject of several other reports. Citigroup started coverage on Nektar Therapeutics in a research report on Wednesday, November 26th. They set a “buy” rating and a $102.00 target price for the company. Piper Sandler restated an “overweight” rating and issued a $105.00 price target on shares of Nektar Therapeutics in a research report on Monday, January 26th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a research note on Monday, December 29th. BTIG Research reiterated a “buy” rating and issued a $118.00 price target on shares of Nektar Therapeutics in a research report on Thursday, January 29th. Finally, HC Wainwright lifted their price objective on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.86.

Nektar Therapeutics Trading Up 43.3%

Shares of NKTR stock traded up $16.05 on Tuesday, hitting $53.12. 5,735,723 shares of the stock were exchanged, compared to its average volume of 851,189. Nektar Therapeutics has a one year low of $6.45 and a one year high of $66.92. The firm’s 50 day moving average is $43.32 and its two-hundred day moving average is $45.74. The firm has a market capitalization of $1.08 billion, a PE ratio of -6.63 and a beta of 1.34.

Insider Activity at Nektar Therapeutics

In other news, insider Mark Andrew Wilson sold 630 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total transaction of $34,196.40. Following the transaction, the insider directly owned 21,585 shares of the company’s stock, valued at $1,171,633.80. This represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Howard W. Robin sold 2,207 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $119,795.96. Following the sale, the chief executive officer directly owned 54,245 shares in the company, valued at approximately $2,944,418.60. This represents a 3.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 7,861 shares of company stock worth $354,730. Corporate insiders own 3.71% of the company’s stock.

Institutional Trading of Nektar Therapeutics

Several institutional investors have recently added to or reduced their stakes in NKTR. AQR Capital Management LLC lifted its position in shares of Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after acquiring an additional 2,807,595 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Nektar Therapeutics during the first quarter worth approximately $68,000. Rhumbline Advisers grew its stake in shares of Nektar Therapeutics by 23.3% during the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 41,948 shares during the last quarter. IFP Advisors Inc bought a new position in Nektar Therapeutics in the second quarter valued at about $124,000. Finally, FNY Investment Advisers LLC bought a new stake in Nektar Therapeutics in the 2nd quarter valued at approximately $39,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.