Bank of Montreal Can lowered its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,395 shares of the biopharmaceutical company’s stock after selling 800 shares during the quarter. Bank of Montreal Can’s holdings in Nektar Therapeutics were worth $145,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of NKTR. Prudential Financial Inc. boosted its holdings in shares of Nektar Therapeutics by 1.1% in the 1st quarter. Prudential Financial Inc. now owns 262,243 shares of the biopharmaceutical company’s stock valued at $6,155,000 after purchasing an additional 2,890 shares in the last quarter. Elkfork Partners LLC boosted its holdings in shares of Nektar Therapeutics by 11.1% in the 1st quarter. Elkfork Partners LLC now owns 9,520 shares of the biopharmaceutical company’s stock valued at $223,000 after purchasing an additional 952 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Nektar Therapeutics by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 13,607,980 shares of the biopharmaceutical company’s stock valued at $319,379,000 after purchasing an additional 634,700 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of Nektar Therapeutics by 20.2% in the 1st quarter. State of Tennessee Treasury Department now owns 143,644 shares of the biopharmaceutical company’s stock valued at $3,371,000 after purchasing an additional 24,123 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Nektar Therapeutics by 10.4% in the 1st quarter. HighTower Advisors LLC now owns 16,725 shares of the biopharmaceutical company’s stock valued at $391,000 after purchasing an additional 1,569 shares in the last quarter. 95.08% of the stock is currently owned by institutional investors and hedge funds.
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Nektar Therapeutics (NASDAQ:NKTR) opened at 22.43 on Friday. The company’s market capitalization is $3.51 billion. The company’s 50-day moving average price is $20.15 and its 200 day moving average price is $19.77. Nektar Therapeutics has a 12 month low of $11.41 and a 12 month high of $24.88.
Nektar Therapeutics (NASDAQ:NKTR) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.04). The company had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $33.64 million. Nektar Therapeutics had a negative return on equity of 1,223.34% and a negative net margin of 157.14%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.36) earnings per share. Analysts forecast that Nektar Therapeutics will post ($0.94) EPS for the current fiscal year.
In other Nektar Therapeutics news, SVP Stephen K. Doberstein sold 1,701 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $19.32, for a total value of $32,863.32. Following the completion of the sale, the senior vice president now directly owns 31,102 shares of the company’s stock, valued at $600,890.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jillian B. Thomsen sold 2,648 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $19.32, for a total transaction of $51,159.36. The disclosure for this sale can be found here. Insiders sold 320,962 shares of company stock valued at $6,615,210 over the last three months. 6.10% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on NKTR shares. ValuEngine raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. William Blair reaffirmed an “outperform” rating on shares of Nektar Therapeutics in a report on Monday, June 26th. BidaskClub raised Nektar Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 target price on shares of Nektar Therapeutics in a report on Friday, July 21st. Finally, Zacks Investment Research upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. Nektar Therapeutics currently has a consensus rating of “Buy” and an average target price of $26.10.
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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