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JP Morgan gives an Underweight recommendation for Nektar Therapeutics (NKTR)

In a filing, Nektar Therapeutics revealed its 10% Owner Deep Track Capital, LP unloaded Company’s shares for reported $99630.0 on May 10 ’24. In the deal valued at $1.78 per share,56,000 shares were sold. As a result of this transaction, Deep Track Capital, LP now holds 18,344,000 shares worth roughly $32.1 million.

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Then, ROBIN HOWARD W sold 20,033 shares, generating $13,622 in total proceeds. Upon selling the shares at $0.68, the President & CEO now owns 879,889 shares.

Before that, Zalevsky Jonathan sold 9,014 shares. Nektar Therapeutics shares valued at $6,130 were divested by the Chief R&D Officer at a price of $0.68 per share. As a result of the transaction, Zalevsky Jonathan now holds 265,025 shares, worth roughly $0.46 million.

A number of analysts have revised their coverage, including TD Cowen’s analysts, who increased its forecast for the stock in early November from “a Market perform” to “an Outperform”. Jefferies also remained covering NKTR and has increased its forecast on May 10, 2023 with a “Hold” recommendation from previously “an Underperform” rating. Jefferies revised its rating on February 24, 2023. It rated NKTR as “an Underperform” which previously was an “a Hold”.

Price Performance Review of NKTR

On Monday, Nektar Therapeutics [NASDAQ:NKTR] saw its stock fall -0.57% to $1.75. Over the last five days, the stock has gained 6.06%. Nektar Therapeutics shares have risen nearly 209.73% since the year began. Nevertheless, the stocks have risen 136.23% over the past one year. While a 52-week high of $1.87 was reached on 05/13/24, a 52-week low of $0.41 was recorded on 01/18/24. SMA at 50 days reached $1.2200, while 200 days put it at $0.7447. A total of 3.03 million shares were traded, compared to the trading of 2.36 million shares in the previous session.

Levels Of Support And Resistance For NKTR Stock

The 24-hour chart illustrates a support level at 1.6473, which if violated will result in even more drops to 1.5447. On the upside, there is a resistance level at 1.8903. A further resistance level may holdings at 2.0307. The Relative Strength Index (RSI) on the 14-day chart is 64.27, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.1512, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 27.90%. Stochastics %K at 71.71% indicates the stock is a holding.

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