Acadian Asset Management LLC Has $7.07 Million Stock Holdings in Nektar Therapeutics (NASDAQ:NKTR)

Acadian Asset Management LLC cut its holdings in Nektar Therapeutics (NASDAQ:NKTR) by 3.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,569,063 shares of the biopharmaceutical company’s stock after selling 249,741 shares during the quarter. Acadian Asset Management LLC owned about 4.12% of Nektar Therapeutics worth $7,070,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Citigroup Inc. lifted its stake in shares of Nektar Therapeutics by 1,993.9% in the third quarter. Citigroup Inc. now owns 77,978 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 74,254 shares during the last quarter. GSA Capital Partners LLP increased its position in Nektar Therapeutics by 185.5% during the fourth quarter. GSA Capital Partners LLP now owns 5,255,790 shares of the biopharmaceutical company’s stock worth $2,970,000 after acquiring an additional 3,414,712 shares during the period. Marquette Asset Management LLC increased its position in Nektar Therapeutics by 25.5% during the fourth quarter. Marquette Asset Management LLC now owns 186,163 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 37,785 shares during the period. Monaco Asset Management SAM increased its position in Nektar Therapeutics by 24.2% during the fourth quarter. Monaco Asset Management SAM now owns 5,973,387 shares of the biopharmaceutical company’s stock worth $3,375,000 after acquiring an additional 1,163,786 shares during the period. Finally, Acuitas Investments LLC increased its position in Nektar Therapeutics by 26.3% during the fourth quarter. Acuitas Investments LLC now owns 911,204 shares of the biopharmaceutical company’s stock worth $515,000 after acquiring an additional 189,744 shares during the period. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Rodman & Renshaw assumed coverage on shares of Nektar Therapeutics in a research report on Friday, June 28th. They set a “buy” rating and a $2.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Nektar Therapeutics has a consensus rating of “Hold” and a consensus target price of $3.00.

Nektar Therapeutics Trading Up 2.9 %

Nektar Therapeutics stock traded up $0.04 on Monday, hitting $1.43. The company’s stock had a trading volume of 893,159 shares, compared to its average volume of 2,089,171. The company has a fifty day moving average price of $1.38 and a 200-day moving average price of $1.09. Nektar Therapeutics has a one year low of $0.41 and a one year high of $1.93.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.03. The firm had revenue of $21.64 million for the quarter, compared to analyst estimates of $14.91 million. Nektar Therapeutics had a negative net margin of 195.02% and a negative return on equity of 107.31%. During the same quarter in the previous year, the firm posted ($0.25) EPS. On average, analysts expect that Nektar Therapeutics will post -0.84 EPS for the current year.

Insider Buying and Selling at Nektar Therapeutics

In other news, major shareholder Deep Track Capital, Lp sold 56,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $1.78, for a total value of $99,680.00. Following the sale, the insider now owns 18,344,000 shares of the company’s stock, valued at approximately $32,652,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Howard W. Robin sold 16,650 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $1.75, for a total value of $29,137.50. Following the sale, the chief executive officer now owns 863,239 shares of the company’s stock, valued at approximately $1,510,668.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Deep Track Capital, Lp sold 56,000 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $1.78, for a total transaction of $99,680.00. Following the completion of the sale, the insider now directly owns 18,344,000 shares in the company, valued at approximately $32,652,320. The disclosure for this sale can be found here. Insiders have sold 99,505 shares of company stock valued at $165,089 in the last 90 days. 3.71% of the stock is currently owned by company insiders.

Nektar Therapeutics Company Profile

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, 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 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.