Nektar Therapeutics (NASDAQ:NKTR) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Nektar Therapeutics (NASDAQ:NKTR) in a research report report published on Friday morning. The brokerage issued a hold rating on the biopharmaceutical company’s stock.

Several other brokerages have also issued reports on NKTR. TD Cowen upgraded shares of Nektar Therapeutics from a market perform rating to an outperform rating in a research note on Thursday, November 9th. Mizuho reiterated a neutral rating and set a $6.00 target price on shares of Nektar Therapeutics in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $3.00.

Nektar Therapeutics Trading Up 8.0 %

Shares of NKTR stock opened at $0.52 on Friday. Nektar Therapeutics has a 12-month low of $0.41 and a 12-month high of $3.50. The stock has a 50 day simple moving average of $0.55 and a 200-day simple moving average of $0.61. The company has a market cap of $99.20 million, a price-to-earnings ratio of -0.33 and a beta of 0.88.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NKTR. Monaco Asset Management SAM purchased a new position in Nektar Therapeutics during the 2nd quarter valued at about $5,327,000. Marquette Asset Management LLC purchased a new stake in Nektar Therapeutics during the 2nd quarter worth about $85,000. CM Management LLC lifted its position in Nektar Therapeutics by 220.0% during the 1st quarter. CM Management LLC now owns 400,000 shares of the biopharmaceutical company’s stock worth $281,000 after acquiring an additional 275,000 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Nektar Therapeutics by 597.5% in the 2nd quarter. Acadian Asset Management LLC now owns 4,396,020 shares of the biopharmaceutical company’s stock valued at $2,528,000 after acquiring an additional 3,765,771 shares during the last quarter. Finally, Deep Track Capital LP grew its stake in Nektar Therapeutics by 931.0% during the 2nd quarter. Deep Track Capital LP now owns 17,973,464 shares of the biopharmaceutical company’s stock worth $10,338,000 after buying an additional 16,230,216 shares during the last quarter. 82.20% of the stock is owned by hedge funds and other institutional investors.

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 1B clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1/2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer squamous cell carcinoma and colorectal cancer.