13,485 Shares in Nektar Therapeutics $NKTR Purchased by Sectoral Asset Management Inc.

Sectoral Asset Management Inc. purchased a new position in shares of Nektar Therapeutics (NASDAQ:NKTR) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 13,485 shares of the biopharmaceutical company’s stock, valued at approximately $570,000. Sectoral Asset Management Inc. owned approximately 0.07% of Nektar Therapeutics as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in Nektar Therapeutics by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 210 shares in the last quarter. Bayforest Capital Ltd lifted its position in Nektar Therapeutics by 51.3% during the 4th quarter. Bayforest Capital Ltd now owns 2,541 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 862 shares during the period. FNY Investment Advisers LLC lifted its position in Nektar Therapeutics by 70.6% during the 3rd quarter. FNY Investment Advisers LLC now owns 2,602 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 1,077 shares during the period. Bessemer Group Inc. lifted its position in Nektar Therapeutics by 1,741.2% during the 3rd quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock valued at $90,000 after purchasing an additional 1,480 shares during the period. Finally, Compass Wealth Management LLC acquired a new position in Nektar Therapeutics during the 3rd quarter valued at about $88,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wedbush cut their target price on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. TD Cowen assumed coverage on shares of Nektar Therapeutics in a research report on Tuesday, March 17th. They set a “buy” rating on the stock. Piper Sandler upped their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, HC Wainwright upped their target price 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. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $149.63.

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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is owned by corporate insiders.

Nektar Therapeutics Price Performance

Shares of NKTR opened at $66.61 on Monday. The stock has a market capitalization of $2.25 billion, a P/E ratio of -7.91 and a beta of 1.24. Nektar Therapeutics has a twelve month low of $7.99 and a twelve month high of $109.00. The company has a 50 day moving average of $77.98 and a 200-day moving average of $61.82.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. On average, sell-side analysts anticipate that Nektar Therapeutics will post -9.65 earnings per share for the current fiscal year.

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.