Simplify Asset Management Inc. Buys 35,176 Shares of Nektar Therapeutics $NKTR

Simplify Asset Management Inc. boosted its stake in Nektar Therapeutics (NASDAQ:NKTR) by 67.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,174 shares of the biopharmaceutical company’s stock after acquiring an additional 35,176 shares during the period. Simplify Asset Management Inc. owned 0.46% of Nektar Therapeutics worth $4,960,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NKTR. FNY Investment Advisers LLC bought a new stake in shares of Nektar Therapeutics in the 2nd quarter valued at $39,000. Headlands Technologies LLC acquired a new position in Nektar Therapeutics in the second quarter valued at $65,000. Integrated Wealth Concepts LLC bought a new stake in Nektar Therapeutics during the first quarter valued at $68,000. IFP Advisors Inc bought a new stake in Nektar Therapeutics during the second quarter valued at $124,000. Finally, Rhumbline Advisers grew its holdings in Nektar Therapeutics by 23.3% during the 1st quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock worth $151,000 after acquiring an additional 41,948 shares during the period. Institutional investors own 75.88% of the company’s stock.

Analyst Upgrades and Downgrades

NKTR has been the topic of a number of recent analyst reports. BTIG Research boosted their price objective on Nektar Therapeutics from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Wall Street Zen downgraded shares of Nektar Therapeutics from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. B. Riley boosted their target price on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Jefferies Financial Group reissued a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, December 17th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 22nd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $111.83.

Nektar Therapeutics Trading Down 4.0%

NASDAQ NKTR opened at $42.73 on Tuesday. The company has a market cap of $869.13 million, a P/E ratio of -5.36 and a beta of 1.27. The company has a fifty day simple moving average of $55.89 and a 200 day simple moving average of $42.08. Nektar Therapeutics has a 12-month low of $6.45 and a 12-month high of $66.92.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported ($1.85) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.85) by $1.00. Nektar Therapeutics had a negative net margin of 192.87% and a negative return on equity of 456.53%. The firm had revenue of $11.79 million during the quarter, compared to analysts’ expectations of $10.20 million. Sell-side analysts predict that Nektar Therapeutics will post -0.72 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jonathan Zalevsky sold 1,157 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $54.28, for a total transaction of $62,801.96. Following the transaction, the insider owned 18,971 shares of the company’s stock, valued at $1,029,745.88. The trade was a 5.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Wilson sold 630 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $54.28, for a total value of $34,196.40. Following the completion of the sale, the insider directly owned 21,585 shares of the company’s stock, valued at $1,171,633.80. The trade was a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,994 shares of company stock valued at $216,794. Corporate insiders own 3.71% of the company’s stock.

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.