Braidwell LP increased its stake in Nektar Therapeutics (NASDAQ:NKTR – Free Report) by 112.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 473,617 shares of the biopharmaceutical company’s stock after acquiring an additional 250,916 shares during the period. Braidwell LP owned approximately 1.39% of Nektar Therapeutics worth $33,063,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. AQR Capital Management LLC raised its position in Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after purchasing an additional 2,807,595 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Nektar Therapeutics during the first quarter valued at approximately $68,000. Rhumbline Advisers grew its stake in shares of Nektar Therapeutics by 23.3% during the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 41,948 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Nektar Therapeutics during the second quarter valued at approximately $367,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics in the second quarter worth approximately $65,000. Institutional investors own 75.88% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on NKTR. Wedbush dropped their price objective on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Canaccord Genuity Group began coverage on Nektar Therapeutics in a research note on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 target price on the stock. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. JPMorgan Chase & Co. initiated coverage on shares of Nektar Therapeutics in a research note on Friday, August 21st. They set a “neutral” rating and a $65.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.
Insider Buying and Selling
In other Nektar Therapeutics news, CEO Howard W. Robin sold 10,000 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the sale, the chief executive officer owned 65,045 shares of the company’s stock, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the transaction, the insider directly owned 9,756 shares of the company’s stock, valued at approximately $682,920. The trade was a 36.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,823 shares of company stock valued at $1,380,558 in the last three months. 2.50% of the stock is currently owned by insiders.
Nektar Therapeutics Trading Up 1.4%
Shares of NKTR stock opened at $72.74 on Thursday. Nektar Therapeutics has a twelve month low of $27.87 and a twelve month high of $109.00. The stock has a fifty day simple moving average of $71.31 and a two-hundred day simple moving average of $72.04. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -10.86 and a beta of 1.14.
Nektar Therapeutics (NASDAQ:NKTR – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.97) by $0.74. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%.The firm had revenue of $10.13 million for the quarter, compared to analyst estimates of $10.43 million. Research analysts predict that Nektar Therapeutics will post -8.51 EPS for the current fiscal year.
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.
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