SG Americas Securities LLC Trims Stock Position in Nektar Therapeutics $NKTR

SG Americas Securities LLC lessened its stake in Nektar Therapeutics (NASDAQ:NKTR) by 70.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,235 shares of the biopharmaceutical company’s stock after selling 7,719 shares during the quarter. SG Americas Securities LLC’s holdings in Nektar Therapeutics were worth $233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NKTR. BNP Paribas Financial Markets raised its position in Nektar Therapeutics by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Nektar Therapeutics in the 2nd quarter worth approximately $65,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Nektar Therapeutics during the 1st quarter worth approximately $68,000. Quarry LP purchased a new position in shares of Nektar Therapeutics during the 4th quarter valued at approximately $85,000. Finally, Flagship Harbor Advisors LLC acquired a new position in shares of Nektar Therapeutics in the 4th quarter valued at $92,000. 75.88% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Jonathan Zalevsky sold 5,681 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the sale, the insider owned 9,756 shares of the company’s stock, valued at $682,920. The trade was a 36.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Howard W. Robin sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the transaction, the chief executive officer owned 65,045 shares of the company’s stock, valued at approximately $3,923,514.40. This trade represents a 13.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 21,862 shares of company stock worth $1,379,205. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Oppenheimer reiterated an “outperform” rating and issued a $140.00 price objective on shares of Nektar Therapeutics in a research report on Friday, March 13th. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Wedbush dropped their target price on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, May 11th. Finally, TD Cowen initiated coverage on Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a “buy” rating for the company. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.62.

Nektar Therapeutics Price Performance

Shares of NASDAQ:NKTR opened at $70.36 on Friday. The business’s 50 day moving average price is $67.69 and its 200-day moving average price is $63.70. Nektar Therapeutics has a 1 year low of $21.02 and a 1 year high of $109.00. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -8.36 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations 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 expect that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Nektar Therapeutics Company Profile

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.