Almitas Capital LLC Purchases 3,690,647 Shares of Nektar Therapeutics $NKTR

Key Points

• Almitas Capital LLC significantly increased its stake in Nektar Therapeutics by 401.1% in the first quarter, acquiring over 3.6 million additional shares, now owning a total of approximately 4.6 million shares.
• Several other institutional investors have also expanded their holdings in Nektar, with significant increases coming from Woodline Partners LP and Mackenzie Financial Corp, among others.
• Nektar Therapeutics reported earnings that surpassed analysts' expectations, showing a revenue of $11.18 million for the quarter, alongside an EPS of -$2.95 that beat the consensus estimate.

Almitas Capital LLC boosted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 401.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,610,872 shares of the biopharmaceutical company's stock after acquiring an additional 3,690,647 shares during the period. Nektar Therapeutics accounts for 1.0% of Almitas Capital LLC's portfolio, making the stock its 16th largest position. Almitas Capital LLC owned 2.48% of Nektar Therapeutics worth $3,135,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Woodline Partners LP lifted its position in Nektar Therapeutics by 187.3% in the 4th 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 in the last quarter. Mackenzie Financial Corp lifted its position in Nektar Therapeutics by 253.1% during the 1st quarter. Mackenzie Financial Corp now owns 1,658,745 shares of the biopharmaceutical company's stock worth $1,128,000 after buying an additional 1,188,976 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Nektar Therapeutics by 37.4% during the 4th quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,580,916 shares of the biopharmaceutical company's stock worth $1,470,000 after buying an additional 430,087 shares in the last quarter. Two Sigma Investments LP lifted its position in Nektar Therapeutics by 12.8% during the 4th quarter. Two Sigma Investments LP now owns 1,537,355 shares of the biopharmaceutical company's stock worth $1,430,000 after buying an additional 174,185 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Nektar Therapeutics by 0.9% during the 4th quarter. Northern Trust Corp now owns 1,414,984 shares of the biopharmaceutical company's stock worth $1,316,000 after buying an additional 12,826 shares in the last quarter. Institutional investors and hedge funds own 75.88% of the company's stock.

Nektar Therapeutics Trading Up 7.7%

NASDAQ:NKTR traded up $3.08 on Monday, hitting $43.26. The company had a trading volume of 764,552 shares, compared to its average volume of 859,118. The stock has a market capitalization of $822.81 million, a price-to-earnings ratio of -4.92 and a beta of 1.05. The firm has a 50 day moving average of $25.78 and a two-hundred day moving average of $16.37. Nektar Therapeutics has a 52 week low of $6.45 and a 52 week high of $43.05.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($2.95) EPS for the quarter, beating the consensus estimate of ($3.13) by $0.18. The business had revenue of $11.18 million during the quarter, compared to the consensus estimate of $9.42 million. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. As a group, equities analysts forecast that Nektar Therapeutics will post -0.72 EPS for the current year.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 1,573 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $26.59, for a total value of $41,826.07. Following the completion of the transaction, the chief executive officer directly owned 69,340 shares in the company, valued at approximately $1,843,750.60. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders have sold 4,959 shares of company stock valued at $138,917. Corporate insiders own 3.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NKTR. William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a research report on Monday, May 12th. Wall Street Zen lowered shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. B. Riley boosted their price objective on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. HC Wainwright boosted their price objective on shares of Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Finally, BTIG Research boosted their price objective on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Nektar Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $88.33.

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.