Acadian Asset Management LLC Has $4.96 Million Stock Holdings in Nektar Therapeutics $NKTR

Key Points

• Acadian Asset Management LLC has increased its stake in Nektar Therapeutics by 1.4%, now holding approximately 7.3 million shares valued at around $4.96 million.
• Nektar Therapeutics has received multiple analyst upgrades, with BTIG Research raising the price target from $60 to $100, reflecting strong market confidence in the company's performance.
• Insider trading activity includes notable sales by CEO Howard W. Robin and insider Jonathan Zalevsky, indicating decreasing ownership percentages while insiders hold approximately 5.25% of the company's stock.

Acadian Asset Management LLC raised its position in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 1.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,301,734 shares of the biopharmaceutical company's stock after buying an additional 100,645 shares during the period. Acadian Asset Management LLC owned 3.92% of Nektar Therapeutics worth $4,961,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Fred Alger Management LLC bought a new stake in Nektar Therapeutics during the 1st quarter worth approximately $344,000. Integrated Wealth Concepts LLC acquired a new position in Nektar Therapeutics in the first quarter worth $68,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Nektar Therapeutics by 14.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 3,007,928 shares of the biopharmaceutical company's stock worth $2,045,000 after purchasing an additional 380,967 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Nektar Therapeutics by 336.9% in the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock valued at $2,463,000 after buying an additional 2,807,595 shares in the last quarter. Finally, Almitas Capital LLC raised its stake in shares of Nektar Therapeutics by 401.1% in the first quarter. Almitas Capital LLC now owns 4,610,872 shares of the biopharmaceutical company's stock worth $3,135,000 after acquiring an additional 3,690,647 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company's stock.

Insider Transactions at Nektar Therapeutics

In related news, insider Jonathan Zalevsky sold 1,721 shares of the company's 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 sale, the insider owned 17,462 shares in the company, valued at approximately $585,326.24. This represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 6,666 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $2,303,777.98. This represents a 11.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,178 shares of company stock worth $938,776. Corporate insiders own 3.71% of the company's stock.

Wall Street Analysts Forecast Growth

NKTR has been the subject of a number of recent research reports. HC Wainwright boosted their target price on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. B. Riley upped their target price on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, 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. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.33.

Nektar Therapeutics Stock Performance

NKTR stock traded up $0.33 during midday trading on Monday, hitting $49.01. 1,090,725 shares of the company's stock were exchanged, compared to its average volume of 1,077,822. The stock's fifty day moving average price is $28.53 and its 200-day moving average price is $17.84. Nektar Therapeutics has a one year low of $6.45 and a one year high of $50.53. The company has a market cap of $932.17 million, a PE ratio of -5.57 and a beta of 1.05.

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

Nektar Therapeutics 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.