AWM Investment Company Inc. Acquires Shares of 20,925 Nektar Therapeutics $NKTR

Key Points

• AWM Investment Company acquired 20,925 Nektar Therapeutics shares worth approximately $1.46 million, representing about 0.06% of the company. Institutional investors collectively own 75.88% of NKTR.
• Analyst sentiment is broadly positive: Nektar has a consensus rating of “Moderate Buy” and an average price target of $141.50, despite ratings ranging from Sell to Strong Buy.
• Nektar reported a quarterly loss of $1.23 per share, beating estimates for a $1.97 loss, while revenue of $10.13 million fell slightly short of forecasts. The stock opened at $74.96, with a 12-month range of $26.66 to $109.00.

AWM Investment Company Inc. acquired a new position in Nektar Therapeutics (NASDAQ:NKTR - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 20,925 shares of the biopharmaceutical company's stock, valued at approximately $1,461,000. AWM Investment Company Inc. owned approximately 0.06% of Nektar Therapeutics as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NKTR. Orbimed Advisors LLC bought a new position in Nektar Therapeutics in the first quarter worth approximately $19,786,000. Swiss National Bank boosted its position in Nektar Therapeutics by 50.2% during the 1st quarter. Swiss National Bank now owns 47,900 shares of the biopharmaceutical company's stock valued at $3,446,000 after acquiring an additional 16,000 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Nektar Therapeutics by 97.5% in the 1st quarter. California State Teachers Retirement System now owns 28,682 shares of the biopharmaceutical company's stock valued at $2,064,000 after acquiring an additional 14,162 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Nektar Therapeutics by 144.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 26,545 shares of the biopharmaceutical company's stock worth $1,910,000 after acquiring an additional 15,683 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Nektar Therapeutics in the 1st quarter worth $1,138,000. Institutional investors own 75.88% of the company's stock.

Analyst Upgrades and Downgrades

NKTR has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on Nektar Therapeutics in a research note on Friday, August 21st. They issued a "neutral" rating and a $65.00 target price on the stock. TD Cowen raised shares of Nektar Therapeutics to a "strong-buy" rating in a research report on Monday. Canaccord Genuity Group began coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They issued a "buy" rating and a $153.00 price target on the stock. Piper Sandler lifted their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.50.

Insider Activity

In related news, CEO Howard W. Robin sold 418 shares of the business's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total value of $30,087.64. Following the completion of the transaction, the chief executive officer directly owned 54,627 shares in the company, valued at $3,932,051.46. The trade was a 0.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Zalevsky sold 5,681 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 21,823 shares of company stock worth $1,380,558. 2.50% of the stock is owned by corporate insiders.

Nektar Therapeutics Trading Up 1.7%

NASDAQ NKTR opened at $74.96 on Wednesday. Nektar Therapeutics has a 12-month low of $26.66 and a 12-month high of $109.00. The company has a fifty day simple moving average of $70.18 and a two-hundred day simple moving average of $71.09. The stock has a market cap of $2.56 billion, a P/E ratio of -11.19 and a beta of 1.14.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.97) by $0.74. The company had revenue of $10.13 million during the quarter, compared to analyst estimates of $10.43 million. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. As a group, sell-side analysts forecast that Nektar Therapeutics will post -8.6 earnings per share 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.

Want to see what other hedge funds are holding NKTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nektar Therapeutics (NASDAQ:NKTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source