Insider Selling: Nektar Therapeutics (NASDAQ:NKTR) CEO Sells 16,278 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) CEO Howard W. Robin sold 16,278 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $1.01, for a total transaction of $16,440.78. Following the completion of the transaction, the chief executive officer now owns 832,080 shares of the company’s stock, valued at approximately $840,400.80. This trade represents a 1.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Nektar Therapeutics Stock Performance

Shares of NKTR opened at $1.05 on Friday. The firm’s fifty day simple moving average is $1.27 and its 200-day simple moving average is $1.32. Nektar Therapeutics has a twelve month low of $0.42 and a twelve month high of $1.93.

Institutional Trading of Nektar Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. purchased a new position in shares of Nektar Therapeutics in the 2nd quarter valued at about $29,000. Valence8 US LP acquired a new position in Nektar Therapeutics in the third quarter valued at approximately $34,000. Intech Investment Management LLC purchased a new position in Nektar Therapeutics in the third quarter valued at approximately $41,000. XTX Topco Ltd acquired a new stake in Nektar Therapeutics during the 3rd quarter worth $46,000. Finally, Values First Advisors Inc. acquired a new position in Nektar Therapeutics in the second quarter valued at $56,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. BTIG Research reiterated a “buy” rating and issued a $4.00 target price on shares of Nektar Therapeutics in a report on Monday, September 30th. Piper Sandler began coverage on Nektar Therapeutics in a research note on Monday, November 4th. They issued an “overweight” rating and a $7.00 price objective for the company. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $3.50.

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.