Nektar Therapeutics (NASDAQ:NKTR) Shares Gap Up on Analyst Upgrade

Shares of Nektar Therapeutics (NASDAQ:NKTR) gapped up prior to trading on Tuesday after William Blair upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $37.07, but opened at $47.15. Nektar Therapeutics shares last traded at $52.5760, with a volume of 3,726,112 shares traded.

A number of other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, December 17th. BTIG Research restated a “buy” rating and set a $118.00 price target on shares of Nektar Therapeutics in a research report on Thursday, January 29th. HC Wainwright raised their price objective on shares of Nektar Therapeutics from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Nektar Therapeutics in a research report on Monday, December 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price target on shares of Nektar Therapeutics in a research note on Monday, January 26th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Nektar Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $110.86.

Insider Activity

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 3,867 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $35.67, for a total transaction of $137,935.89. Following the completion of the sale, the insider directly owned 21,354 shares in the company, valued at approximately $761,697.18. This trade represents a 15.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark Andrew Wilson sold 630 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $34,196.40. Following the completion of the transaction, the insider owned 21,585 shares in the company, valued at $1,171,633.80. This represents a 2.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,861 shares of company stock worth $354,730 over the last quarter. Corporate insiders own 3.71% of the company’s stock.

Hedge Funds Weigh In On Nektar Therapeutics

A number of hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Nektar Therapeutics by 336.9% during the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after purchasing an additional 2,807,595 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Nektar Therapeutics by 30.0% in the 3rd quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock worth $53,978,000 after purchasing an additional 219,155 shares during the last quarter. Farallon Capital Management LLC bought a new stake in shares of Nektar Therapeutics during the 3rd quarter worth $45,008,000. Two Sigma Investments LP grew its position in shares of Nektar Therapeutics by 446.9% in the third quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company’s stock valued at $24,708,000 after purchasing an additional 354,842 shares during the last quarter. Finally, 22NW LP increased its position in Nektar Therapeutics by 126.6% in the 3rd quarter. 22NW LP now owns 331,115 shares of the biopharmaceutical company’s stock worth $18,840,000 after buying an additional 185,000 shares during the period. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Stock Performance

The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of -6.65 and a beta of 1.34. The company’s 50 day moving average is $43.32 and its 200 day moving average is $45.74.

About Nektar Therapeutics

Nektar Therapeutics (NASDAQ:NKTR) is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body’s immune system to treat cancer and other serious diseases.

Nektar’s product portfolio and pipeline include a range of clinical-stage and partnered programs.