49 Wealth Management LLC Acquires Shares of 81,740 Nektar Therapeutics (NASDAQ:NKTR)

49 Wealth Management LLC acquired a new position in Nektar Therapeutics (NASDAQ:NKTR - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 81,740 shares of the biopharmaceutical company's stock, valued at approximately $56,000.

Several other institutional investors have also recently bought and sold shares of the stock. Two Sigma Securities LLC grew its holdings in shares of Nektar Therapeutics by 56.3% in the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 9,958 shares during the period. Harvest Investment Services LLC acquired a new position in Nektar Therapeutics in the 4th quarter worth $27,000. US Asset Management LLC acquired a new position in Nektar Therapeutics in the 4th quarter worth $31,000. Wealth Enhancement Advisory Services LLC acquired a new position in Nektar Therapeutics in the 1st quarter worth $41,000. Finally, ProShare Advisors LLC boosted its stake in Nektar Therapeutics by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 16,543 shares during the period. Institutional investors own 75.88% of the company's stock.

Wall Street Analysts Forecast Growth

NKTR has been the topic of several analyst reports. Oppenheimer raised shares of Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $90.00 price target on the stock in a research report on Friday, March 14th. Jefferies Financial Group raised shares of Nektar Therapeutics from a "hold" rating to a "buy" rating and increased their price target for the company from $15.00 to $30.00 in a report on Friday, April 11th. William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. BTIG Research increased their price target on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. Finally, Wall Street Zen cut shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.33.

Nektar Therapeutics Stock Down 0.3%

Nektar Therapeutics stock traded down $0.07 during trading hours on Thursday, reaching $23.30. 395,961 shares of the company's stock were exchanged, compared to its average volume of 868,648. The firm has a market capitalization of $289.09 million, a PE ratio of -2.43 and a beta of 0.94. Nektar Therapeutics has a twelve month low of $6.45 and a twelve month high of $37.38. The firm's 50 day simple moving average is $13.67 and its 200 day simple moving average is $12.75.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) EPS for the quarter, missing the consensus estimate of ($2.70) by ($0.60). Nektar Therapeutics had a negative return on equity of 329.54% and a negative net margin of 152.49%. The business had revenue of $10.46 million for the quarter, compared to the consensus estimate of $15.61 million. During the same period in the previous year, the firm earned ($2.70) earnings per share. Analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current year.

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.