49 Wealth Management LLC Invests $56,000 in Nektar Therapeutics (NASDAQ:NKTR)

49 Wealth Management LLC purchased a new stake in Nektar Therapeutics (NASDAQ:NKTR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 81,740 shares of the biopharmaceutical company's stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Two Sigma Securities LLC increased its stake in Nektar Therapeutics by 56.3% during the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 9,958 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Nektar Therapeutics by 6.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 192,978 shares of the biopharmaceutical company's stock worth $180,000 after acquiring an additional 10,941 shares during the last quarter. Northern Trust Corp increased its stake in Nektar Therapeutics by 0.9% during the fourth quarter. Northern Trust Corp now owns 1,414,984 shares of the biopharmaceutical company's stock worth $1,316,000 after acquiring an additional 12,826 shares during the last quarter. ProShare Advisors LLC increased its stake in Nektar Therapeutics by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company's stock worth $47,000 after acquiring an additional 16,543 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Nektar Therapeutics by 26.5% during the fourth quarter. Wells Fargo & Company MN now owns 108,975 shares of the biopharmaceutical company's stock worth $101,000 after acquiring an additional 22,822 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company's stock.

Nektar Therapeutics Trading Down 0.4%

NASDAQ:NKTR traded down $0.09 during midday trading on Friday, reaching $25.01. The company had a trading volume of 1,207,020 shares, compared to its average volume of 502,718. Nektar Therapeutics has a 12-month low of $6.48 and a 12-month high of $37.38. The firm has a market capitalization of $310.37 million, a price-to-earnings ratio of -2.61 and a beta of 0.94. The stock's fifty day simple moving average is $14.22 and its 200-day simple moving average is $12.91.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share for the quarter, missing analysts' consensus estimates of ($2.70) by ($0.60). Nektar Therapeutics had a negative net margin of 152.49% and a negative return on equity of 329.54%. The business had revenue of $10.46 million during the quarter, compared to analyst estimates of $15.61 million. During the same quarter in the prior year, the business earned ($2.70) earnings per share. As a group, sell-side analysts expect that Nektar Therapeutics will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

NKTR has been the subject of several research analyst reports. HC Wainwright raised their price target on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. BTIG Research raised their price target on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Wall Street Zen lowered Nektar Therapeutics from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. William Blair restated a "market perform" rating on shares of Nektar Therapeutics in a research report on Monday, May 12th. Finally, Oppenheimer upgraded Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $90.00 price target for the company in a research report on Friday, March 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.33.

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.