Nektar Therapeutics (NASDAQ:NKTR) CEO Sells $135,709.98 in Stock

Nektar Therapeutics (NASDAQ:NKTRGet Rating) CEO Howard W. Robin sold 38,014 shares of Nektar Therapeutics stock in a transaction on Wednesday, November 16th. The shares were sold at an average price of $3.57, for a total value of $135,709.98. Following the completion of the transaction, the chief executive officer now owns 979,793 shares in the company, valued at $3,497,861.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Nektar Therapeutics Price Performance

Shares of NKTR opened at $3.49 on Monday. The firm has a market capitalization of $655.96 million, a PE ratio of -1.43 and a beta of 1.24. The company’s fifty day moving average price is $3.54 and its 200-day moving average price is $3.80. Nektar Therapeutics has a 1-year low of $2.96 and a 1-year high of $15.94.

Wall Street Analysts Forecast Growth

NKTR has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Nektar Therapeutics from a “neutral” rating to an “underweight” rating in a report on Monday, August 8th. StockNews.com began coverage on shares of Nektar Therapeutics in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $8.40.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Xponance Inc. purchased a new stake in Nektar Therapeutics in the third quarter valued at approximately $33,000. Arete Wealth Advisors LLC acquired a new stake in shares of Nektar Therapeutics in the third quarter worth $35,000. Vantage Consulting Group Inc purchased a new position in shares of Nektar Therapeutics during the second quarter worth $41,000. Nisa Investment Advisors LLC lifted its position in Nektar Therapeutics by 964.1% during the second quarter. Nisa Investment Advisors LLC now owns 12,141 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 11,000 shares during the period. Finally, Cipher Capital LP purchased a new stake in Nektar Therapeutics in the third quarter valued at $46,000. 96.99% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Company Profile

(Get Rating)

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

Further Reading

Insider Buying and Selling by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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