Nektar Therapeutics (NASDAQ:NKTR) Sets New 52-Week High – Time to Buy?

Nektar Therapeutics (NASDAQ:NKTR) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $75.67 and last traded at $73.62, with a volume of 975410 shares. The stock had previously closed at $73.73.

Wall Street Analyst Weigh In

NKTR has been the subject of several research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price on shares of Nektar Therapeutics in a research report on Monday, January 26th. Citigroup assumed coverage on Nektar Therapeutics in a report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price objective for the company. BTIG Research lifted their price target on Nektar Therapeutics from $118.00 to $151.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. B. Riley Financial reaffirmed a “buy” rating and set a $150.00 target price (up previously from $105.00) on shares of Nektar Therapeutics in a report on Monday. Finally, Wall Street Zen cut shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Nektar Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $126.29.

Nektar Therapeutics Stock Down 0.1%

The company has a market capitalization of $1.50 billion, a PE ratio of -9.24 and a beta of 1.34. The business has a 50 day simple moving average of $46.21 and a 200 day simple moving average of $49.09.

Insider Activity at Nektar Therapeutics

In other news, insider Jonathan Zalevsky sold 3,867 shares of the company’s stock in a transaction that occurred on 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 owned 21,354 shares in the company, valued at $761,697.18. This represents a 15.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Howard W. Robin sold 423 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total value of $30,879.00. Following the transaction, the chief executive officer owned 75,489 shares in the company, valued at $5,510,697. The trade was a 0.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,470 shares of company stock valued at $181,955 in the last quarter. 3.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Nektar Therapeutics during the second quarter valued at $65,000. Integrated Wealth Concepts LLC bought a new stake in shares of Nektar Therapeutics in the 1st quarter worth $68,000. Quarry LP acquired a new position in Nektar Therapeutics in the fourth quarter worth approximately $85,000. Finally, Compass Wealth Management LLC acquired a new stake in shares of Nektar Therapeutics during the third quarter valued at approximately $88,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

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.