Nektar Therapeutics (NASDAQ:NKTR) Director Robert Chess Sells 8,000 Shares of Stock

Nektar Therapeutics (NASDAQ:NKTR) Director Robert Chess sold 8,000 shares of Nektar Therapeutics stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $23.50, for a total value of $188,000.00. Following the sale, the director now directly owns 284,973 shares of the company’s stock, valued at approximately $6,696,865.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NASDAQ:NKTR opened at $23.13 on Friday. Nektar Therapeutics has a 12-month low of $15.64 and a 12-month high of $44.06. The business has a 50 day moving average of $22.25 and a two-hundred day moving average of $20.46. The company has a debt-to-equity ratio of 0.26, a current ratio of 12.60 and a quick ratio of 12.49.

A number of large investors have recently made changes to their positions in the business. Empire Life Investments Inc. lifted its holdings in Nektar Therapeutics by 0.5% in the fourth quarter. Empire Life Investments Inc. now owns 101,163 shares of the biopharmaceutical company’s stock valued at $2,184,000 after acquiring an additional 507 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Nektar Therapeutics by 6.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,204 shares of the biopharmaceutical company’s stock valued at $199,000 after acquiring an additional 527 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Nektar Therapeutics by 7.6% in the third quarter. Daiwa Securities Group Inc. now owns 7,820 shares of the biopharmaceutical company’s stock valued at $142,000 after acquiring an additional 550 shares during the period. Chevy Chase Trust Holdings Inc. lifted its holdings in Nektar Therapeutics by 0.6% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 142,807 shares of the biopharmaceutical company’s stock valued at $2,601,000 after acquiring an additional 819 shares during the period. Finally, Pictet Asset Management Ltd. lifted its holdings in Nektar Therapeutics by 0.5% in the third quarter. Pictet Asset Management Ltd. now owns 227,121 shares of the biopharmaceutical company’s stock valued at $4,137,000 after acquiring an additional 1,100 shares during the period. 99.79% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on NKTR shares. Zacks Investment Research raised Nektar Therapeutics from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Monday, January 13th. Mizuho reaffirmed a “buy” rating and set a $35.00 target price (up previously from $21.00) on shares of Nektar Therapeutics in a report on Monday, February 3rd. Piper Jaffray Companies decreased their target price on Nektar Therapeutics from $50.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, November 7th. BidaskClub downgraded Nektar Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 30th. Finally, Canaccord Genuity lifted their target price on Nektar Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Nektar Therapeutics has a consensus rating of “Hold” and a consensus target price of $30.50.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company develops NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and NKTR-214, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I to treat immuno-oncology.

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