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

Cerity Partners LLC acquired a new stake in Nektar Therapeutics (NASDAQ:NKTR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 75,920 shares of the biopharmaceutical company's stock, valued at approximately $52,000.

Other institutional investors have also recently modified their holdings of the company. Nantahala Capital Management LLC increased its stake in shares of 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 valued at $7,263,000 after purchasing an additional 3,700,000 shares during the last quarter. Woodline Partners LP lifted its position in shares of Nektar Therapeutics by 187.3% during the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company's stock worth $4,626,000 after buying an additional 3,242,841 shares during the last quarter. Altium Capital Management LLC boosted its stake in 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 in the last quarter. 22NW LP bought a new position in Nektar Therapeutics in the fourth quarter valued at about $2,038,000. Finally, Diadema Partners LP bought a new position in Nektar Therapeutics in the fourth quarter valued at about $650,000. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Stock Up 5.9%

NASDAQ NKTR traded up $1.28 on Friday, hitting $22.96. The company's stock had a trading volume of 504,568 shares, compared to its average volume of 911,784. Nektar Therapeutics has a 1-year low of $6.45 and a 1-year high of $37.38. The company's 50-day moving average is $18.44 and its 200 day moving average is $13.83. The firm has a market cap of $284.93 million, a PE ratio of -2.39 and a beta of 0.95.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share for the quarter, missing the consensus estimate of ($2.70) by ($0.60). The business 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 period in the prior year, the firm earned ($2.70) EPS. On average, equities analysts expect that Nektar Therapeutics will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

NKTR has been the subject of a number of research reports. Jefferies Financial Group raised shares of Nektar Therapeutics from a "hold" rating to a "buy" rating and increased their target price for the stock from $15.00 to $30.00 in a report on Friday, April 11th. B. Riley increased their price objective on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. HC Wainwright raised their target price on shares of Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Wall Street Zen downgraded shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Finally, William Blair reiterated a "market perform" rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $88.33.

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.