Valence8 US LP Takes Position in Nektar Therapeutics (NASDAQ:NKTR)

Valence8 US LP acquired a new stake in Nektar Therapeutics (NASDAQ:NKTR) during the third quarter, Holdings Channel.com reports. The firm acquired 26,107 shares of the biopharmaceutical company’s stock, valued at approximately $34,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKTR. Intech Investment Management LLC bought a new position in shares of Nektar Therapeutics in the third quarter valued at approximately $41,000. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Nektar Therapeutics by 5.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 650,841 shares of the biopharmaceutical company’s stock valued at $846,000 after purchasing an additional 34,599 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Nektar Therapeutics by 30.4% during the 3rd quarter. SG Americas Securities LLC now owns 95,637 shares of the biopharmaceutical company’s stock worth $124,000 after purchasing an additional 22,285 shares during the last quarter. Nantahala Capital Management LLC boosted its stake in Nektar Therapeutics by 66.0% during the 2nd quarter. Nantahala Capital Management LLC now owns 4,110,000 shares of the biopharmaceutical company’s stock valued at $5,096,000 after purchasing an additional 1,634,046 shares during the period. Finally, Millennium Management LLC grew its holdings in Nektar Therapeutics by 56.1% in the 2nd quarter. Millennium Management LLC now owns 4,659,469 shares of the biopharmaceutical company’s stock valued at $5,778,000 after buying an additional 1,674,924 shares during the last quarter. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Nektar Therapeutics Price Performance

Shares of NKTR stock opened at $1.01 on Friday. Nektar Therapeutics has a one year low of $0.42 and a one year high of $1.93. The stock has a fifty day moving average price of $1.28 and a 200 day moving average price of $1.32. The stock has a market cap of $186.30 million, a P/E ratio of -1.20 and a beta of 0.61.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NKTR. BTIG Research restated a “buy” rating and issued a $4.00 price objective on shares of Nektar Therapeutics in a research note on Monday, September 30th. Piper Sandler initiated coverage on shares of Nektar Therapeutics in a report on Monday, November 4th. They set an “overweight” rating and a $7.00 price objective on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $3.50.

About Nektar Therapeutics

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.