Nektar Therapeutics $NKTR Shares Purchased by Sofinnova Investments Inc.

Sofinnova Investments Inc. boosted its position in Nektar Therapeutics (NASDAQ:NKTR) by 270.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 438,630 shares of the biopharmaceutical company’s stock after purchasing an additional 320,211 shares during the period. Sofinnova Investments Inc.’s holdings in Nektar Therapeutics were worth $18,545,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position in Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 210 shares during the period. Compass Wealth Management LLC acquired a new stake in Nektar Therapeutics in the third quarter valued at about $88,000. Quarry LP purchased a new position in Nektar Therapeutics in the fourth quarter valued at about $85,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Nektar Therapeutics during the 4th quarter valued at approximately $92,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Nektar Therapeutics during the 2nd quarter valued at approximately $65,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Trading Up 3.0%

NKTR stock opened at $61.15 on Tuesday. The firm has a 50 day moving average of $74.28 and a 200-day moving average of $62.25. Nektar Therapeutics has a 12-month low of $7.99 and a 12-month high of $109.00. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -7.26 and a beta of 1.14.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates 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. Sell-side analysts forecast that Nektar Therapeutics will post -9.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 444 shares of the firm’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 completion of the transaction, the chief executive officer directly owned 75,045 shares of the company’s stock, valued at $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 this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NKTR has been the subject of a number of research reports. Oppenheimer reiterated an “outperform” rating and set a $140.00 price target on shares of Nektar Therapeutics in a research report on Friday, March 13th. B. Riley Financial reiterated a “buy” rating and set a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a research report on Monday, February 23rd. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. 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 report on Monday, April 20th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.63.

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.