Nektar Therapeutics (NKTR) Position Increased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System raised its stake in shares of Nektar Therapeutics (NASDAQ:NKTR) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 63,200 shares of the biopharmaceutical company’s stock after buying an additional 500 shares during the period. Louisiana State Employees Retirement System’s holdings in Nektar Therapeutics were worth $1,236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Prudential Financial Inc. raised its position in shares of Nektar Therapeutics by 1.1% in the first quarter. Prudential Financial Inc. now owns 262,243 shares of the biopharmaceutical company’s stock valued at $6,155,000 after buying an additional 2,890 shares in the last quarter. Elkfork Partners LLC raised its position in shares of Nektar Therapeutics by 11.1% in the first quarter. Elkfork Partners LLC now owns 9,520 shares of the biopharmaceutical company’s stock valued at $223,000 after buying an additional 952 shares in the last quarter. Bank of Montreal Can raised its position in shares of Nektar Therapeutics by 21.8% in the first quarter. Bank of Montreal Can now owns 8,195 shares of the biopharmaceutical company’s stock valued at $192,000 after buying an additional 1,464 shares in the last quarter. State of Tennessee Treasury Department raised its position in shares of Nektar Therapeutics by 20.2% in the first quarter. State of Tennessee Treasury Department now owns 143,644 shares of the biopharmaceutical company’s stock valued at $3,371,000 after buying an additional 24,123 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Nektar Therapeutics by 1.9% in the first quarter. Arizona State Retirement System now owns 80,145 shares of the biopharmaceutical company’s stock valued at $1,881,000 after buying an additional 1,500 shares in the last quarter. 93.85% of the stock is currently owned by institutional investors.

Nektar Therapeutics (NASDAQ NKTR) opened at 22.95 on Tuesday. The firm’s market capitalization is $3.56 billion. Nektar Therapeutics has a one year low of $11.41 and a one year high of $24.88. The stock has a 50 day moving average price of $19.78 and a 200-day moving average price of $17.64.

Nektar Therapeutics (NASDAQ:NKTR) last posted its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.42) EPS for the quarter, missing the Zacks’ 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 for the quarter, compared to analyst estimates of $29.43 million. During the same quarter last year, the firm posted ($0.14) EPS. The firm’s revenue for the quarter was down 58.0% on a year-over-year basis. On average, analysts predict that Nektar Therapeutics will post ($1.17) earnings per share for the current fiscal year.

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Several research analysts recently issued reports on NKTR shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $23.00 target price on shares of Nektar Therapeutics in a research report on Friday. ValuEngine raised Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Roth Capital set a $31.00 target price on Nektar Therapeutics and gave the company a “buy” rating in a research report on Monday, May 22nd. William Blair reissued an “outperform” rating on shares of Nektar Therapeutics in a report on Monday, June 26th. Finally, Aegis reissued a “buy” rating and issued a $27.00 price objective on shares of Nektar Therapeutics in a report on Wednesday, May 10th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $26.29.

In related news, SVP Ivan P. Gergel sold 54,920 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $21.10, for a total value of $1,158,812.00. Following the transaction, the senior vice president now owns 98,492 shares in the company, valued at approximately $2,078,181.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lutz Lingnau sold 30,000 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $20.76, for a total value of $622,800.00. Following the completion of the transaction, the director now owns 53,450 shares in the company, valued at approximately $1,109,622. The disclosure for this sale can be found here. Insiders have sold 159,803 shares of company stock worth $3,328,247 in the last quarter. Insiders own 5.44% of the company’s stock.

About Nektar Therapeutics

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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Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

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