Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) Insider Sells $48,048.10 in Stock

Nektar Therapeutics (NASDAQ:NKTR) insider Jonathan Zalevsky sold 51,115 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $0.94, for a total value of $48,048.10. Following the completion of the sale, the insider now directly owns 326,904 shares of the company’s stock, valued at $307,289.76. This trade represents a 13.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Jonathan Zalevsky also recently made the following trade(s):

• On Tuesday, November 19th, Jonathan Zalevsky sold 7,785 shares of Nektar Therapeutics stock. The shares were sold at an average price of $1.01, for a total value of $7,862.85.

Nektar Therapeutics Price Performance

Shares of NKTR opened at $0.93 on Monday. The firm has a market cap of $171.23 million, a PE ratio of -1.11 and a beta of 0.57. The stock’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.23. Nektar Therapeutics has a 1 year low of $0.46 and a 1 year high of $1.93.

Institutional Trading of Nektar Therapeutics

Several hedge funds have recently made changes to their positions in NKTR. Samlyn Capital LLC bought a new stake in shares of Nektar Therapeutics in the second quarter valued at $11,728,000. Eventide Asset Management LLC raised its stake in shares of Nektar Therapeutics by 24.8% during 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 purchasing an additional 1,870,904 shares during the period. Millennium Management LLC raised its stake in shares of Nektar Therapeutics by 56.1% during the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock valued at $5,778,000 after purchasing an additional 1,674,924 shares during the period. Nantahala Capital Management LLC raised its stake in shares of Nektar Therapeutics by 66.0% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock valued at $5,096,000 after purchasing an additional 1,634,046 shares during the period. Finally, Armistice Capital LLC bought a new stake in shares of Nektar Therapeutics during the 2nd quarter valued at $1,037,000. 75.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NKTR has been the topic of several analyst reports. Piper Sandler initiated coverage on Nektar Therapeutics in a research report on Monday, November 4th. They set an “overweight” rating and a $7.00 target price on the stock. HC Wainwright initiated coverage on Nektar Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $6.50 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $4.00 target price on shares of Nektar Therapeutics in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.