ACT Capital Management LLC Invests $2.17 Million in Nektar Therapeutics $NKTR

Key Points

• ACT Capital Management bought a new stake in Nektar Therapeutics, purchasing 51,200 shares valued at about $2.17 million. The position represents 1.8% of the firm’s portfolio.
• Other institutional investors have also been active in NKTR, including large purchases from Farallon Capital, Two Seas Capital, and Prosight Management. Overall, hedge funds and other institutions own 75.88% of the company.
• Nektar recently reported a quarterly EPS miss and continues to post significant losses, though analysts remain broadly positive with a Moderate Buy consensus and an average price target of $149.63.

ACT Capital Management LLC purchased a new position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 51,200 shares of the biopharmaceutical company's stock, valued at approximately $2,165,000. Nektar Therapeutics comprises 1.8% of ACT Capital Management LLC's investment portfolio, making the stock its 18th largest holding. ACT Capital Management LLC owned 0.25% of Nektar Therapeutics at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NKTR. AQR Capital Management LLC increased its stake in shares of Nektar Therapeutics by 336.9% during the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock worth $2,463,000 after purchasing an additional 2,807,595 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Nektar Therapeutics during the 3rd quarter worth approximately $45,008,000. Two Seas Capital LP purchased a new stake in shares of Nektar Therapeutics during the 4th quarter worth approximately $31,506,000. Prosight Management LP purchased a new stake in shares of Nektar Therapeutics during the 4th quarter worth approximately $23,450,000. Finally, Two Sigma Investments LP increased its stake in shares of Nektar Therapeutics by 446.9% during the 3rd quarter. Two Sigma Investments LP now owns 434,237 shares of the biopharmaceutical company's stock worth $24,708,000 after purchasing an additional 354,842 shares during the last quarter. Hedge funds and other institutional investors own 75.88% of the company's stock.

Nektar Therapeutics Price Performance

NKTR opened at $60.92 on Thursday. The company has a fifty day moving average price of $73.67 and a 200-day moving average price of $62.18. The firm has a market capitalization of $2.06 billion, a P/E ratio of -7.24 and a beta of 1.13. Nektar Therapeutics has a one year low of $8.27 and a one year high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.58) by ($0.24). Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%.The company had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. On average, analysts expect that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. TD Cowen assumed coverage on shares of Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a "buy" rating for the company. Piper Sandler lifted their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. Finally, Citigroup lifted their price objective on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Nine research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $149.63.

Insiders Place Their Bets

In other news, CEO Howard W. Robin sold 444 shares of Nektar Therapeutics stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total transaction of $29,086.44. Following the completion of the sale, the chief executive officer directly owned 75,045 shares of the company's stock, valued at approximately $4,916,197.95. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Zalevsky sold 5,538 shares of Nektar Therapeutics stock in a transaction on Monday, June 15th. The stock was sold at an average price of $60.71, for a total transaction of $336,211.98. Following the sale, the insider directly owned 15,437 shares of the company's stock, valued at $937,180.27. This represents a 26.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,181 shares of company stock valued at $378,335 over the last ninety days. 2.50% of the stock is currently owned by insiders.

Nektar Therapeutics Profile

Nektar Therapeutics NASDAQ: NKTR is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body's immune system to treat cancer and other serious diseases.

Nektar's product portfolio and pipeline include a range of clinical-stage and partnered programs.

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