Propel Bio Management LLC Purchases Shares of 49,000 Nektar Therapeutics $NKTR

Propel Bio Management LLC acquired a new position in shares of Nektar Therapeutics (NASDAQ:NKTR) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 49,000 shares of the biopharmaceutical company’s stock, valued at approximately $2,788,000. Nektar Therapeutics makes up about 2.8% of Propel Bio Management LLC’s holdings, making the stock its 12th biggest position.

A number of other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Nektar Therapeutics in the 2nd quarter worth approximately $65,000. Integrated Wealth Concepts LLC acquired a new stake in Nektar Therapeutics during the 1st quarter valued at $68,000. Compass Wealth Management LLC bought a new position in Nektar Therapeutics in the 3rd quarter valued at $88,000. Bessemer Group Inc. boosted its stake in Nektar Therapeutics by 1,741.2% in the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock worth $90,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Bayforest Capital Ltd bought a new stake in shares of Nektar Therapeutics during the third quarter worth $96,000. Institutional investors own 75.88% of the company’s stock.

Nektar Therapeutics Stock Up 4.4%

NASDAQ:NKTR opened at $71.11 on Thursday. Nektar Therapeutics has a 12-month low of $6.45 and a 12-month high of $75.67. The stock’s fifty day simple moving average is $49.49 and its 200-day simple moving average is $51.07. The firm has a market capitalization of $1.45 billion, a P/E ratio of -8.92 and a beta of 1.17.

Analysts Set New Price Targets

NKTR has been the subject of a number of research analyst reports. BTIG Research lifted their price target on Nektar Therapeutics from $118.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. Citigroup assumed coverage on shares of Nektar Therapeutics in a research report on Wednesday, November 26th. They issued a “buy” rating and a $102.00 price objective for the company. William Blair upgraded shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, December 17th. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Nektar Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.29.

Insider Transactions at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 423 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total transaction of $30,879.00. Following the completion of the transaction, the chief executive officer directly owned 75,489 shares in the company, valued at approximately $5,510,697. The trade was a 0.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan Zalevsky sold 3,867 shares of the company’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total value of $137,935.89. Following the completion of the sale, the insider directly owned 21,354 shares of the company’s stock, valued at approximately $761,697.18. This trade represents a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 4,470 shares of company stock worth $181,955. Company insiders own 5.25% 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.