Nektar Therapeutics (NASDAQ:NKTR) Upgraded to Strong-Buy at B. Riley

B. Riley upgraded shares of Nektar Therapeutics (NASDAQ:NKTR) to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

NKTR has been the subject of several other reports. BTIG Research reaffirmed a “buy” rating and set a $4.00 price target on shares of Nektar Therapeutics in a research note on Monday, September 30th. Piper Sandler initiated coverage on shares of Nektar Therapeutics in a research report on Monday, November 4th. They issued an “overweight” rating and a $7.00 target price for the company. Finally, HC Wainwright assumed coverage on shares of Nektar Therapeutics in a research report on Tuesday, December 10th. They set a “buy” rating and a $6.50 price target on the stock. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $4.08.

Nektar Therapeutics Stock Performance

Shares of NKTR stock opened at $1.14 on Tuesday. The company has a market capitalization of $210.28 million, a P/E ratio of -1.36 and a beta of 0.59. Nektar Therapeutics has a 52 week low of $0.48 and a 52 week high of $1.93. The company’s 50 day moving average price is $1.09 and its two-hundred day moving average price is $1.21.

Insider Transactions at Nektar Therapeutics

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 value of $47,464.95. Following the transaction, the chief executive officer now owns 1,195,710 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Wilson sold 33,402 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $0.90, for a total transaction of $30,061.80. Following the sale, the insider now directly owns 351,892 shares of the company’s stock, valued at $316,702.80. This represents a 8.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 155,575 shares of company stock worth $149,878. 3.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Nektar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Nektar Therapeutics by 30.4% during the 3rd quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock worth $124,000 after acquiring an additional 22,285 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at $29,000. Valence8 US LP acquired a new position in shares of Nektar Therapeutics during the 3rd quarter worth $34,000. Jane Street Group LLC lifted its position in shares of Nektar Therapeutics by 50.0% during the 3rd quarter. Jane Street Group LLC now owns 91,470 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 30,481 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Nektar Therapeutics in the third quarter valued at about $41,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

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.