Nektar Therapeutics (NASDAQ:NKTR) Sets New 1-Year High – Here’s What Happened

Nektar Therapeutics (NASDAQ:NKTR) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $75.67 and last traded at $73.62, with a volume of 975410 shares changing hands. The stock had previously closed at $73.73.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NKTR. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Nektar Therapeutics in a report on Monday, January 26th. William Blair upgraded shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. BTIG Research boosted their price target on shares of Nektar Therapeutics from $118.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Citigroup began coverage on Nektar Therapeutics in a research report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price target on the stock. Finally, B. Riley Financial reissued a “buy” rating and set a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.29.

Nektar Therapeutics Trading Down 0.1%

The firm’s 50-day moving average is $46.21 and its 200-day moving average is $49.09. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -9.24 and a beta of 1.34.

Insiders Place Their Bets

In related news, CEO Howard W. Robin sold 423 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $73.00, for a total transaction of $30,879.00. Following the completion of the transaction, the chief executive officer owned 75,489 shares in the company, valued at approximately $5,510,697. This represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jonathan Zalevsky sold 3,867 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $35.67, for a total value of $137,935.89. Following the completion of the sale, the insider directly owned 21,354 shares of the company’s stock, valued at $761,697.18. This represents a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 4,470 shares of company stock valued at $181,955 in the last 90 days. Corporate insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

A number of institutional investors have recently made changes to their positions in NKTR. BNP Paribas Financial Markets boosted its holdings in shares of Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 210 shares in the last quarter. Headlands Technologies LLC bought a new stake in Nektar Therapeutics in the 2nd quarter worth approximately $65,000. Integrated Wealth Concepts LLC purchased a new stake in Nektar Therapeutics in the first quarter worth approximately $68,000. Quarry LP purchased a new stake in Nektar Therapeutics in the fourth quarter worth approximately $85,000. Finally, Compass Wealth Management LLC bought a new position in Nektar Therapeutics during the third quarter valued at approximately $88,000. Institutional investors own 75.88% of the company’s stock.

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.