Propel Bio Management LLC Boosts Stock Holdings in Nektar Therapeutics $NKTR

Propel Bio Management LLC lifted its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 69.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,822 shares of the biopharmaceutical company’s stock after acquiring an additional 33,822 shares during the quarter. Nektar Therapeutics accounts for about 3.0% of Propel Bio Management LLC’s portfolio, making the stock its 12th largest position. Propel Bio Management LLC owned 0.41% of Nektar Therapeutics worth $3,502,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 210 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Nektar Therapeutics during the second quarter worth $65,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Nektar Therapeutics during the first quarter worth $68,000. Compass Wealth Management LLC purchased a new stake in shares of Nektar Therapeutics during the third quarter worth $88,000. Finally, Bessemer Group Inc. increased its position in shares of Nektar Therapeutics by 1,741.2% during the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 1,480 shares during the period. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 444 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total transaction of $29,086.44. Following the transaction, the chief executive officer directly owned 75,045 shares of the company’s stock, valued at approximately $4,916,197.95. This trade represents a 0.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.50% of the company’s stock.

Nektar Therapeutics Stock Performance

Shares of Nektar Therapeutics stock opened at $57.32 on Friday. Nektar Therapeutics has a 1 year low of $7.99 and a 1 year high of $109.00. The company has a market capitalization of $1.94 billion, a P/E ratio of -6.81 and a beta of 1.13. The company’s fifty day moving average is $75.88 and its two-hundred day moving average is $62.22.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The business had revenue of $10.86 million for the quarter, compared to analysts’ expectations of $10.69 million. As a group, equities analysts expect that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

NKTR has been the topic of a number of recent research reports. Wedbush cut their price objective on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. HC Wainwright lifted their price objective on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. BTIG Research lifted their price objective on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. William Blair raised shares of Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Nine analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $149.63.

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.