Fic Capital Inc. purchased a new position in shares of Nektar Therapeutics (NASDAQ:NKTR) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 67,961 shares of the biopharmaceutical company’s stock, valued at approximately $1,595,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Nektar Therapeutics by 4.9% in the first quarter. Vanguard Group Inc. now owns 13,607,980 shares of the biopharmaceutical company’s stock worth $319,379,000 after buying an additional 634,700 shares during the period. Camber Capital Management LLC increased its stake in Nektar Therapeutics by 87.5% in the fourth quarter. Camber Capital Management LLC now owns 6,000,000 shares of the biopharmaceutical company’s stock worth $73,620,000 after buying an additional 2,800,000 shares during the period. State Street Corp increased its stake in Nektar Therapeutics by 21.9% in the fourth quarter. State Street Corp now owns 4,062,468 shares of the biopharmaceutical company’s stock worth $49,839,000 after buying an additional 730,836 shares during the period. Norges Bank acquired a new stake in Nektar Therapeutics during the fourth quarter worth about $31,574,000. Finally, First Trust Advisors LP increased its stake in Nektar Therapeutics by 8.0% in the first quarter. First Trust Advisors LP now owns 2,249,950 shares of the biopharmaceutical company’s stock worth $52,806,000 after buying an additional 166,521 shares during the period. 94.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nektar Therapeutics (NASDAQ:NKTR) traded up 1.04% during midday trading on Monday, hitting $18.39. 752,843 shares of the stock were exchanged. The firm’s market capitalization is $2.85 billion. Nektar Therapeutics has a 1-year low of $11.41 and a 1-year high of $24.88. The stock’s 50-day moving average price is $19.17 and its 200-day moving average price is $16.23.
Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.40) by $0.02. Nektar Therapeutics had a negative return on equity of 3,072.86% and a negative net margin of 150.74%. The firm had revenue of $24.73 million during the quarter, compared to analysts’ expectations of $29.43 million. During the same period last year, the business posted ($0.14) EPS. The company’s revenue was down 58.0% compared to the same quarter last year. On average, analysts forecast that Nektar Therapeutics will post ($1.19) EPS for the current year.
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NKTR has been the topic of a number of recent research reports. Aegis reiterated a “buy” rating and issued a $21.00 price objective on shares of Nektar Therapeutics in a report on Thursday, March 2nd. Jefferies Group LLC restated a “buy” rating and set a $17.00 target price (up from $15.00) on shares of Nektar Therapeutics in a report on Friday, March 3rd. Roth Capital set a $23.00 target price on shares of Nektar Therapeutics and gave the stock a “buy” rating in a report on Saturday, March 4th. J P Morgan Chase & Co set a $24.00 price objective on shares of Nektar Therapeutics and gave the company a “buy” rating in a report on Tuesday, March 21st. Finally, BTIG Research upped their price objective on shares of Nektar Therapeutics from $22.00 to $27.00 and gave the company a “positive” rating in a report on Tuesday, March 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $25.25.
In other Nektar Therapeutics news, CEO Howard W. Robin sold 8,388 shares of Nektar Therapeutics stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $19.55, for a total transaction of $163,985.40. Following the completion of the transaction, the chief executive officer now owns 160,884 shares of the company’s stock, valued at approximately $3,145,282.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stephen K. Doberstein sold 1,701 shares of Nektar Therapeutics stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $19.55, for a total value of $33,254.55. Following the transaction, the senior vice president now directly owns 32,803 shares of the company’s stock, valued at approximately $641,298.65. The disclosure for this sale can be found here. In the last three months, insiders sold 228,414 shares of company stock valued at $4,887,994. 5.44% of the stock is currently owned by insiders.
Nektar Therapeutics Company Profile
Nektar Therapeutics is a biopharmaceutical company that discovers and develops medicines in areas of high unmet medical need. The Company’s research and development pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain. It leverages its chemistry platform to discover and design new drug candidates.
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