Nektar Therapeutics (NKTR)
Develops investigational immune-modulating medicines for autoimmune disease and cancer.
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Builds a clinical pipeline led by rezpegaldesleukin for autoimmune disease, with NKTR-255 in cancer. The company operates without an internally commercialized product portfolio and depends on clinical development of investigational programs.
Develops investigational immunomodulatory medicines for autoimmune disease and cancer. Rezpegaldesleukin is its principal clinical autoimmune program, studied in moderate-to-severe atopic dermatitis and severe alopecia areata. NKTR-255 is a clinical cancer program, while NKTR-0165 and NKTR-0166 are preclinical autoimmune candidates.
The research effort seeks agents that selectively induce, amplify, attenuate, or prevent immune responses. Following earlier drug-delivery and oncology programs, the pipeline is centered on immune modulation rather than a marketed product portfolio.
Clinical development depends on investigational-program outcomes and on Gannet BioChem for PEG reagents used in rezpegaldesleukin and NKTR-255.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 22, 2026 | Canaccord Genuity | Target | Target: — | Target: $153 |
| May 11, 2026 | Wedbush | Reiterate | Rating: —Target: $95 | Target: $80 |
| May 8, 2026 | Piper Sandler | Reiterate | Rating: —Target: $105 | Target: $192 |
| Apr 21, 2026 | Wedbush | Reiterate | Rating: —Target: — | Target: $95 |
| Apr 20, 2026 | H.C. Wainwright | Target | Target: $165 | Target: $185 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $684.3M · Total debt $135.9M · Total assets $1.10B · Shareholders' equity $903.1M
- Revenue
- $10.1M
- Operating income
- −$42.3M
- Net income
- −$40.6M
No dividends on record.
| Institutions | ≈ 124.83% | 35.81M shares | |
|---|---|---|---|
| 258 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.30% | 85.8K shares | |
| 3 holders · as of Aug 20, 2026 | |||
| Adds to | 125.13% | ||
28.69M company shares as of Sep 12, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (34.14M in the company's Sep 22, 2026 report, 28.69M elsewhere); stakes use the report.
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 125.13%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 17.67% | 5.07M | as of Jun 30, 2026 |
Two Seas Capital LPInstitution | 10.78% | 3.09M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 10.25% | 2.94M | as of Jun 30, 2026 |
BVF Inc/ILInstitution | 8.33% | 2.39M | as of Jun 30, 2026 |
Biotechnology Value Fund L PInstitution | 5.31% | 1.52M | filed May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 18, 2026 | Jonathan Zalevsky | officer: Chief R&D Officer | −186 | $71.98 |
| Aug 18, 2026 | Howard W. Robin | director, officer: President & CEO | −418 | $71.98 |
| Jun 30, 2026 | Jonathan Zalevsky | officer: Chief R&D Officer | −5,681 | $70.00 |
| Jun 17, 2026 | Howard W. Robin | director, officer: President & CEO | −10,000 | $61.19 |
| Jun 16, 2026 | Howard W. Robin | director, officer: President & CEO | −10,000 | $60.32 |
- Regeneron
Established biologic in moderate-to-severe atopic dermatitis
- Sanofi (ADR)
Co-commercializes Dupixent and advances amlitelimab in atopic dermatitis
- AbbVie
Systemic JAK program across atopic dermatitis and alopecia areata
- Eli Lilly
Approved therapies in both atopic dermatitis and alopecia areata
- Pfizer
Approved oral JAK therapies in atopic dermatitis and alopecia areata
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Nektar Therapeutics | $61.40 | +0.75% | $1.92B | — | — | 35.1 | −9.3% |
| Regeneron | $803.93 | −0.02% | $82.23B | 19.7 | 13.3 | 5.3 | +16.7% |
| Sanofi (ADR) | $42.49 | +0.05% | $102.05B | 75.6 | — | 1.8 | +11.2% |
| AbbVie | $265.21 | −0.02% | $467.37B | 74.5 | 17.5 | 7.3 | +10.2% |
| Eli Lilly | $1,172.96 | +0.21% | $1.10T | 39.1 | 28.6 | 13.8 | +47.7% |
| Pfizer | $27.89 | −0.14% | $158.10B | 36.7 | 10.0 | 2.5 | +2.6% |
| Median | 39.1 | 15.4 | 5.3 | +11.2% |