Nuveen LLC Invests $222,000 in Nektar Therapeutics $NKTR

Key Points

• Nuveen LLC has acquired 326,716 shares of Nektar Therapeutics, valued at approximately $222,000, marking a new position for the fund.
• Other institutional investors, including Wells Fargo and Voya Investment Management, have also increased their holdings in Nektar Therapeutics significantly during the last quarter.
• Nektar Therapeutics reported earnings that surpassed expectations, with a quarterly revenue of $11.18 million despite a loss of ($2.95) per share.

Nuveen LLC acquired a new position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 326,716 shares of the biopharmaceutical company's stock, valued at approximately $222,000. Nuveen LLC owned approximately 0.18% of Nektar Therapeutics at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Woodline Partners LP raised its stake in Nektar Therapeutics by 187.3% during the fourth quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company's stock valued at $4,626,000 after buying an additional 3,242,841 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Nektar Therapeutics by 253.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,658,745 shares of the biopharmaceutical company's stock valued at $1,128,000 after acquiring an additional 1,188,976 shares in the last quarter. Deuterium Capital Management LLC acquired a new position in Nektar Therapeutics in the first quarter worth $381,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Nektar Therapeutics by 37.4% in the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,580,916 shares of the biopharmaceutical company's stock worth $1,470,000 after purchasing an additional 430,087 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Nektar Therapeutics by 12.8% during the 4th quarter. Two Sigma Investments LP now owns 1,537,355 shares of the biopharmaceutical company's stock valued at $1,430,000 after purchasing an additional 174,185 shares during the period. Institutional investors and hedge funds own 75.88% of the company's stock.

Nektar Therapeutics Stock Performance

Shares of NASDAQ:NKTR traded down $0.98 during midday trading on Thursday, reaching $47.20. The company had a trading volume of 2,798,406 shares, compared to its average volume of 987,591. Nektar Therapeutics has a 1-year low of $6.45 and a 1-year high of $50.53. The company has a fifty day simple moving average of $27.53 and a two-hundred day simple moving average of $17.26. The firm has a market cap of $897.74 million, a price-to-earnings ratio of -5.37 and a beta of 1.06.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.13) by $0.18. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. The business had revenue of $11.18 million for the quarter, compared to analyst estimates of $9.42 million. Analysts expect that Nektar Therapeutics will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

NKTR has been the topic of several analyst reports. HC Wainwright increased their target price on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. BTIG Research increased their price objective on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, B. Riley boosted their target price on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Nektar Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $88.33.

Insiders Place Their Bets

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 1,721 shares of Nektar Therapeutics stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $33.52, for a total transaction of $57,687.92. Following the transaction, the insider owned 17,462 shares of the company's stock, valued at $585,326.24. The trade was a 8.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Howard W. Robin sold 6,666 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $46.69, for a total value of $311,235.54. Following the completion of the transaction, the chief executive officer owned 49,342 shares in the company, valued at $2,303,777.98. This represents a 11.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,178 shares of company stock worth $938,776 in the last quarter. 5.25% of the stock is currently owned by corporate insiders.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in the field of immunotherapy in the United States and internationally. The company is developing rezpegaldesleukin, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 2b clinical trial to treat atopic dermatitis and psoriasis; and NKTR-255, an IL-15 receptor agonist, which is in phase 1 clinical trial to boost the immune system's natural ability to fight cancer.