Armistice Capital LLC Buys 328,000 Shares of Nektar Therapeutics $NKTR

Armistice Capital LLC grew its stake in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 122.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 596,000 shares of the biopharmaceutical company's stock after purchasing an additional 328,000 shares during the period. Armistice Capital LLC owned about 2.93% of Nektar Therapeutics worth $25,199,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its stake in shares of Nektar Therapeutics by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 210 shares during the last quarter. Compass Wealth Management LLC purchased a new position in shares of Nektar Therapeutics in the 3rd quarter worth approximately $88,000. Quarry LP purchased a new position in shares of Nektar Therapeutics in the 4th quarter worth approximately $85,000. Flagship Harbor Advisors LLC purchased a new position in shares of Nektar Therapeutics in the 4th quarter worth approximately $92,000. Finally, Headlands Technologies LLC purchased a new position in shares of Nektar Therapeutics in the 2nd quarter worth approximately $65,000. 75.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on NKTR shares. B. Riley Financial reiterated a "buy" rating and issued a $150.00 price objective (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Wedbush dropped their price objective on Nektar Therapeutics from $95.00 to $80.00 and set a "neutral" rating on the stock in a research note on Monday, May 11th. TD Cowen started coverage on Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a "buy" rating on the stock. Oppenheimer reiterated an "outperform" rating and issued a $140.00 price objective on shares of Nektar Therapeutics in a research note on Friday, March 13th. Finally, HC Wainwright upped their price objective on Nektar Therapeutics from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Nektar Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $149.63.

Insiders Place Their Bets

In other Nektar Therapeutics news, CEO Howard W. Robin sold 444 shares of the business's 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 sale, the chief executive officer owned 75,045 shares of the company's stock, valued at $4,916,197.95. The trade was a 0.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 the company's 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 completion of the transaction, the insider directly owned 15,437 shares in the company, valued at approximately $937,180.27. The trade was a 26.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,181 shares of company stock worth $378,335 in the last three months. Insiders own 2.50% of the company's stock.

Nektar Therapeutics Price Performance

Shares of NKTR stock opened at $60.92 on Thursday. The company's fifty day simple moving average is $73.67 and its two-hundred day simple moving average is $62.18. Nektar Therapeutics has a 1 year low of $8.27 and a 1 year high of $109.00. The stock has a market capitalization of $2.06 billion, a price-to-earnings ratio of -7.24 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its earnings results 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 net margin of 284.18% and a negative return on equity of 85.40%. The business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Equities research analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current year.

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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