Principal Financial Group Inc. Boosts Holdings in Nektar Therapeutics (NASDAQ:NKTR)

Principal Financial Group Inc. boosted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR) by 17.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,756 shares of the biopharmaceutical company’s stock after acquiring an additional 97,703 shares during the period. Principal Financial Group Inc. owned 0.37% of Nektar Therapeutics worth $13,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. purchased a new position in Nektar Therapeutics during the 4th quarter valued at about $26,000. Fort Pitt Capital Group LLC purchased a new position in Nektar Therapeutics during the 4th quarter valued at about $43,000. Credit Agricole S A lifted its position in Nektar Therapeutics by 144.2% during the 4th quarter. Credit Agricole S A now owns 2,540 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 1,500 shares during the period. Veriti Management LLC purchased a new position in Nektar Therapeutics during the 4th quarter valued at about $60,000. Finally, Penserra Capital Management LLC lifted its position in Nektar Therapeutics by 171.3% during the 4th quarter. Penserra Capital Management LLC now owns 4,145 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 2,617 shares during the period. 92.05% of the stock is owned by institutional investors.

In other news, CFO Gil M. Labrucherie sold 7,898 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, May 17th. The shares were sold at an average price of $18.30, for a total value of $144,533.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Howard W. Robin sold 11,560 shares of Nektar Therapeutics stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $18.30, for a total transaction of $211,548.00. Following the completion of the sale, the chief executive officer now owns 435,638 shares of the company’s stock, valued at $7,972,175.40. The disclosure for this sale can be found here. Insiders sold 81,877 shares of company stock valued at $1,512,109 over the last quarter. Company insiders own 2.91% of the company’s stock.

A number of brokerages recently issued reports on NKTR. SVB Leerink lowered their price target on shares of Nektar Therapeutics from $21.00 to $20.00 and set a “market perform” rating for the company in a research report on Monday, May 10th. Benchmark reaffirmed a “hold” rating and issued a $26.00 target price on shares of Nektar Therapeutics in a report on Monday, March 1st. Finally, Mizuho reaffirmed a “buy” rating on shares of Nektar Therapeutics in a report on Friday, May 7th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $23.00.

Shares of Nektar Therapeutics stock opened at $17.84 on Friday. The stock has a market capitalization of $3.25 billion, a PE ratio of -7.46 and a beta of 1.52. Nektar Therapeutics has a 52-week low of $15.40 and a 52-week high of $26.75. The business has a 50-day moving average price of $18.78.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, May 6th. The biopharmaceutical company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.04. Nektar Therapeutics had a negative net margin of 340.31% and a negative return on equity of 38.12%. The firm had revenue of $23.60 million during the quarter, compared to analyst estimates of $26.15 million. During the same period in the previous year, the business posted ($0.78) earnings per share. The business’s revenue for the quarter was down 53.4% on a year-over-year basis. As a group, analysts predict that Nektar Therapeutics will post -3 earnings per share for the current year.

Nektar Therapeutics Company Profile

Nektar Therapeutics operates as a biopharmaceutical company. The company researches and develops pipeline of investigational medicines in oncology, immunology, and virology, as well as a portfolio of approved partnered medicines. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of non-small cell lung cancer and immuno-oncology; and phase 1B clinical trial to treat COVID-19.It is also developing NKTR-358, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 1B clinical trial to treat atopic dermatitis and psoriasis; NKTR-255, an IL-15 receptor agonist, which is in phase 2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer and colorectal cancer; and NKTR-262, a toll-like receptor agonist that is in phase 1/2 clinical trial to treat locally advanced or metastatic solid tumor malignancies, as well as various other drug candidates.

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Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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