Braidwell LP Boosts Holdings in Nektar Therapeutics $NKTR

Braidwell LP raised its position in Nektar Therapeutics (NASDAQ:NKTR) by 112.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & 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’s holdings in Nektar Therapeutics were worth $33,063,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Orbimed Advisors LLC acquired a new stake in shares of Nektar Therapeutics in the 1st quarter worth $19,786,000. California State Teachers Retirement System raised its stake in Nektar Therapeutics by 97.5% in the first quarter. California State Teachers Retirement System now owns 28,682 shares of the biopharmaceutical company’s stock valued at $2,064,000 after buying an additional 14,162 shares during the last quarter. Swiss National Bank boosted its holdings in Nektar Therapeutics by 50.2% in the first quarter. Swiss National Bank now owns 47,900 shares of the biopharmaceutical company’s stock worth $3,446,000 after acquiring an additional 16,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Nektar Therapeutics in the first quarter worth about $1,138,000. Finally, Monashee Investment Management LLC purchased a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $3,980,000. 75.88% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics Stock Up 1.4%

Nektar Therapeutics stock opened at $72.74 on Thursday. The stock has a 50-day moving average price of $71.31 and a 200 day moving average price of $72.04. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -10.86 and a beta of 1.14. Nektar Therapeutics has a 52 week low of $27.87 and a 52 week high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share for the quarter, topping the consensus estimate of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The company had revenue of $10.13 million for the quarter, compared to the consensus estimate of $10.43 million. Research analysts anticipate that Nektar Therapeutics will post -8.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on NKTR shares. Canaccord Genuity Group started coverage on shares of Nektar Therapeutics in a research report on Wednesday, July 22nd. They issued a “buy” rating and a $153.00 price objective for the company. Wedbush decreased their price target on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a research note on Friday, August 28th. Piper Sandler boosted their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, TD Cowen raised Nektar Therapeutics to a “strong-buy” rating in a research report on Monday, August 24th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.50.

Insider Buying and Selling at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 418 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total transaction of $30,087.64. Following the completion of the transaction, the chief executive officer owned 54,627 shares of the company’s stock, valued at $3,932,051.46. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the transaction, the insider owned 9,756 shares of the company’s stock, valued at $682,920. This represents a 36.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 21,823 shares of company stock worth $1,380,558 over the last ninety days. Insiders own 2.50% of the company’s stock.

Nektar Therapeutics Profile

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.