Cerity Partners LLC Invests $52,000 in Nektar Therapeutics (NASDAQ:NKTR)

Cerity Partners LLC bought a new position in Nektar Therapeutics (NASDAQ:NKTR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 75,920 shares of the biopharmaceutical company's stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NKTR. Nantahala Capital Management LLC increased its holdings in Nektar Therapeutics by 90.0% in the 4th quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company's stock worth $7,263,000 after purchasing an additional 3,700,000 shares in the last quarter. Woodline Partners LP increased its stake in shares of Nektar Therapeutics by 187.3% in the fourth quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company's stock valued at $4,626,000 after buying an additional 3,242,841 shares during the period. Altium Capital Management LLC increased its stake in shares of Nektar Therapeutics by 26,172.0% in the fourth quarter. Altium Capital Management LLC now owns 3,000,000 shares of the biopharmaceutical company's stock valued at $2,790,000 after buying an additional 2,988,581 shares during the period. 22NW LP acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $2,038,000. Finally, Diadema Partners LP acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at about $650,000. Institutional investors and hedge funds own 75.88% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BTIG Research increased their price target on Nektar Therapeutics from $60.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. HC Wainwright increased their price target on Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research note on Tuesday, June 24th. William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. B. Riley increased their price target on Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group upgraded Nektar Therapeutics from a "hold" rating to a "buy" rating and upped their target price for the company from $15.00 to $30.00 in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Nektar Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

Nektar Therapeutics Price Performance

Shares of Nektar Therapeutics stock traded up $1.28 on Friday, hitting $22.96. 504,568 shares of the company's stock traded hands, compared to its average volume of 869,333. The company has a fifty day moving average of $18.18 and a two-hundred day moving average of $13.76. The company has a market capitalization of $284.86 million, a price-to-earnings ratio of -2.39 and a beta of 0.94. Nektar Therapeutics has a one year low of $6.45 and a one year high of $37.38.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.70) by ($0.60). The firm had revenue of $10.46 million during the quarter, compared to the consensus estimate of $15.61 million. Nektar Therapeutics had a negative return on equity of 329.54% and a negative net margin of 152.49%. During the same quarter in the previous year, the company posted ($2.70) EPS. Equities research analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share 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.