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

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

A number of other hedge funds also recently made changes to their positions in NKTR. Nantahala Capital Management LLC increased its stake in shares of Nektar Therapeutics by 90.0% during the fourth quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company's stock valued at $7,263,000 after acquiring an additional 3,700,000 shares during the period. Woodline Partners LP increased its stake in shares of 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 acquiring an additional 3,242,841 shares during the period. Altium Capital Management LLC grew its position in Nektar Therapeutics by 26,172.0% in the fourth quarter. Altium Capital Management LLC now owns 3,000,000 shares of the biopharmaceutical company's stock worth $2,790,000 after buying an additional 2,988,581 shares during the last quarter. 22NW LP acquired a new position in Nektar Therapeutics in the fourth quarter worth approximately $2,038,000. Finally, Diadema Partners LP acquired a new position in Nektar Therapeutics in the fourth quarter worth approximately $650,000. Institutional investors own 75.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NKTR shares. HC Wainwright lifted their price target on shares of Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. William Blair restated a "market perform" rating on shares of Nektar Therapeutics in a research report on Monday, May 12th. B. Riley lifted their price target on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday. BTIG Research lifted their price target on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Finally, Wall Street Zen lowered shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

Nektar Therapeutics Stock Down 0.4%

Shares of NASDAQ:NKTR traded down $0.09 during trading on Friday, reaching $25.01. 1,207,020 shares of the company traded hands, compared to its average volume of 504,145. The firm has a fifty day simple moving average of $14.22 and a 200 day simple moving average of $12.90. The firm has a market cap of $310.37 million, a P/E ratio of -2.61 and a beta of 0.94. Nektar Therapeutics has a 1-year low of $6.48 and a 1-year high of $37.38.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share (EPS) 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 company had revenue of $10.46 million for the quarter, compared to analyst estimates of $15.61 million. During the same period last year, the business earned ($2.70) EPS. As a group, research analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current year.

Nektar Therapeutics Company Profile

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.