Simplify Asset Management Inc. Has $1.18 Million Stake in Nektar Therapeutics $NKTR

Simplify Asset Management Inc. decreased its position in Nektar Therapeutics (NASDAQ:NKTR) by 67.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,000 shares of the biopharmaceutical company’s stock after selling 59,174 shares during the period. Simplify Asset Management Inc. owned approximately 0.14% of Nektar Therapeutics worth $1,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NKTR. AQR Capital Management LLC lifted its holdings in Nektar Therapeutics by 336.9% in the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock valued at $2,463,000 after buying an additional 2,807,595 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Nektar Therapeutics in the first quarter valued at $68,000. Rhumbline Advisers lifted its holdings in Nektar Therapeutics by 23.3% in the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock valued at $151,000 after buying an additional 41,948 shares during the period. Marshall Wace LLP bought a new stake in Nektar Therapeutics in the second quarter valued at $367,000. Finally, Headlands Technologies LLC bought a new stake in Nektar Therapeutics in the second quarter valued at $65,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Stock Performance

Shares of NKTR stock opened at $66.61 on Monday. The stock has a market capitalization of $2.25 billion, a P/E ratio of -7.91 and a beta of 1.24. The firm’s 50 day moving average is $77.98 and its 200 day moving average is $61.82. Nektar Therapeutics has a 12 month low of $7.99 and a 12 month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of ($1.58) by ($0.24). The business had revenue of $10.86 million for the quarter, compared to analysts’ expectations of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. On average, equities analysts predict that Nektar Therapeutics will post -9.65 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. 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 research note on Monday, May 11th. Citigroup lifted their price target on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. BTIG Research lifted their price target on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the company a “buy” rating in a research note on Monday, April 20th. HC Wainwright lifted their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.63.

Insider Activity at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 444 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 75,045 shares in the company, valued at approximately $4,916,197.95. This represents a 0.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.

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.