Nektar Therapeutics ($NKTR) experienced a substantial surge in its stock price following a major readout in June 2025. The stock initially rose by 30% in the afternoon trading session and was subsequently halted. By midday, $NKTR shares had increased by 130%, reaching a peak gain of 152% at $24.10 per share. Following this rally, investment banks raised their price targets for the company, with BTIG setting a target of $100 and Jefferies raising theirs to $69. Later in June and early July, Nektar Therapeutics announced a proposed public offering, which was priced at $100 million, consisting of 4.25 million shares at $23.50 each, with an approximately 15% greenshoe option. The offering closed on July 2, 2025, after full exercise of the option to purchase additional shares, raising a total of $115 million. Despite the offering, the stock maintained strength, showing a notable recovery by mid-July.