Erste Asset Management GmbH Takes $1 Million Position in Nektar Therapeutics $NKTR

Erste Asset Management GmbH purchased a new stake in Nektar Therapeutics (NASDAQ:NKTR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 17,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,002,000. Erste Asset Management GmbH owned approximately 0.09% of Nektar Therapeutics at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Compass Wealth Management LLC acquired a new stake in shares of Nektar Therapeutics in the 3rd quarter valued at $88,000. Bessemer Group Inc. boosted its holdings in Nektar Therapeutics by 1,741.2% in the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock valued at $90,000 after acquiring an additional 1,480 shares during the last quarter. Bayforest Capital Ltd acquired a new stake in Nektar Therapeutics in the third quarter worth about $96,000. Headlands Technologies LLC bought a new stake in Nektar Therapeutics during the 2nd quarter worth about $65,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Nektar Therapeutics during the 3rd quarter valued at about $223,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Stock Up 4.7%

Shares of NKTR stock opened at $68.98 on Monday. Nektar Therapeutics has a 12-month low of $6.45 and a 12-month high of $75.67. The firm has a fifty day moving average of $47.98 and a 200-day moving average of $50.35. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.66 and a beta of 1.16.

Insider Activity

In other news, CEO Howard W. Robin sold 423 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total transaction of $30,879.00. Following the sale, the chief executive officer owned 75,489 shares of the company’s stock, valued at $5,510,697. This trade represents a 0.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jonathan Zalevsky sold 3,867 shares of Nektar Therapeutics stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $35.67, for a total value of $137,935.89. Following the transaction, the insider owned 21,354 shares in the company, valued at $761,697.18. This trade represents a 15.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,470 shares of company stock valued at $181,955 over the last 90 days. Corporate insiders own 3.71% of the company’s stock.

Analysts Set New Price Targets

NKTR has been the subject of several analyst reports. Citigroup assumed coverage on shares of Nektar Therapeutics in a research report on Wednesday, November 26th. They set a “buy” rating and a $102.00 price target for the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. B. Riley Financial reiterated a “buy” rating and set a $150.00 target price (up from $105.00) on shares of Nektar Therapeutics in a research report on Monday, February 23rd. Wall Street Zen cut Nektar Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $105.00 target price on shares of Nektar Therapeutics in a research note on Monday, January 26th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.29.

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.