Nektar Therapeutics (NASDAQ:NKTR) Reaches New 12-Month High – Should You Buy?

Nektar Therapeutics (NASDAQ:NKTR)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $74.89 and last traded at $73.82, with a volume of 1137081 shares trading hands. The stock had previously closed at $71.33.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NKTR. BTIG Research lifted their target price on Nektar Therapeutics from $118.00 to $151.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Wall Street Zen cut Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Citigroup began coverage on shares of Nektar Therapeutics in a report on Wednesday, November 26th. They issued a “buy” rating and a $102.00 price objective for the company. Piper Sandler reissued an “overweight” rating and set a $105.00 target price on shares of Nektar Therapeutics in a report on Monday, January 26th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, December 17th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $119.86.

Nektar Therapeutics Stock Performance

The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -9.26 and a beta of 1.34. The stock’s fifty day moving average is $44.66 and its two-hundred day moving average is $47.65.

Insider Buying and Selling

In other news, insider Mark Andrew Wilson sold 630 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $34,196.40. Following the transaction, the insider directly owned 21,585 shares of the company’s stock, valued at approximately $1,171,633.80. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Zalevsky sold 3,867 shares of Nektar Therapeutics stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total transaction of $137,935.89. Following the sale, the insider owned 21,354 shares in the company, valued at approximately $761,697.18. This represents a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 7,861 shares of company stock valued at $354,730 in the last three months. 3.71% of the stock is currently owned by corporate insiders.

Institutional Trading of Nektar Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Nektar Therapeutics in the second quarter worth approximately $39,000. Headlands Technologies LLC bought a new position in Nektar Therapeutics during the 2nd quarter valued at $65,000. Integrated Wealth Concepts LLC acquired a new position in shares of Nektar Therapeutics during the 1st quarter valued at $68,000. Finally, Quarry LP bought a new stake in shares of Nektar Therapeutics in the 4th quarter worth $85,000. 75.88% of the stock is currently owned by institutional investors.

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.