Rice Hall James & Associates LLC trimmed its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 629,999 shares of the biopharmaceutical company’s stock after selling 40,360 shares during the quarter. Rice Hall James & Associates LLC owned approximately 0.36% of Nektar Therapeutics worth $22,415,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKTR. First Trust Advisors LP boosted its stake in Nektar Therapeutics by 39.9% during the second quarter. First Trust Advisors LP now owns 3,005,999 shares of the biopharmaceutical company’s stock worth $106,953,000 after buying an additional 856,819 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Nektar Therapeutics by 82.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 408,526 shares of the biopharmaceutical company’s stock worth $13,433,000 after purchasing an additional 184,055 shares during the period. SG Americas Securities LLC increased its holdings in Nektar Therapeutics by 1,069.2% during the 1st quarter. SG Americas Securities LLC now owns 145,488 shares of the biopharmaceutical company’s stock worth $4,888,000 after purchasing an additional 133,045 shares during the period. Acadian Asset Management LLC increased its holdings in Nektar Therapeutics by 3,017.6% during the 1st quarter. Acadian Asset Management LLC now owns 114,635 shares of the biopharmaceutical company’s stock worth $3,851,000 after purchasing an additional 110,958 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Nektar Therapeutics by 15.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 682,377 shares of the biopharmaceutical company’s stock worth $22,928,000 after purchasing an additional 90,448 shares during the period. 92.48% of the stock is currently owned by institutional investors.
Several brokerages have weighed in on NKTR. HC Wainwright restated a “hold” rating on shares of Nektar Therapeutics in a report on Tuesday. TheStreet downgraded Nektar Therapeutics from a “c” rating to a “d” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. downgraded Nektar Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $62.00 to $33.00 in a report on Friday, August 9th. BMO Capital Markets cut their price target on Nektar Therapeutics from $75.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Cfra set a $35.00 price target on Nektar Therapeutics and gave the stock a “hold” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $49.15.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.17. Nektar Therapeutics had a negative return on equity of 24.67% and a negative net margin of 354.90%. The business had revenue of $23.32 million for the quarter, compared to the consensus estimate of $26.65 million. During the same quarter in the prior year, the business posted $5.33 EPS. The business’s revenue for the quarter was down 97.9% on a year-over-year basis. Sell-side analysts forecast that Nektar Therapeutics will post -3.13 EPS for the current fiscal year.
In related news, CEO Howard W. Robin sold 33,334 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $32.11, for a total transaction of $1,070,354.74. Following the transaction, the chief executive officer now owns 328,659 shares in the company, valued at approximately $10,553,240.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Stephen K. Doberstein sold 3,461 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $31.37, for a total value of $108,571.57. Following the transaction, the senior vice president now owns 95,913 shares in the company, valued at approximately $3,008,790.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,283 shares of company stock worth $8,356,254. Company insiders own 4.02% of the company’s stock.
Nektar Therapeutics Profile
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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