CM Management LLC Increases Stock Position in Nektar Therapeutics (NASDAQ:NKTR)

Key Points

• CM Management LLC increased its holdings in Nektar Therapeutics by 6.7%, acquiring an additional 50,000 shares to own approximately 800,000 shares worth $544,000.
• Several institutional investors significantly boosted their stakes in Nektar Therapeutics during the fourth quarter, leading to institutional ownership of 75.88% of the company's stock.
• Analyst ratings are mixed for Nektar Therapeutics, with reports indicating an overall average rating of "Moderate Buy" and multiple target price adjustments ranging from $30 to $120.

CM Management LLC boosted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 800,000 shares of the biopharmaceutical company's stock after acquiring an additional 50,000 shares during the period. CM Management LLC owned about 0.43% of Nektar Therapeutics worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKTR. Two Sigma Securities LLC grew its holdings in shares of Nektar Therapeutics by 56.3% during the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock worth $26,000 after buying an additional 9,958 shares in the last quarter. Harvest Investment Services LLC purchased a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $27,000. US Asset Management LLC purchased a new stake in shares of Nektar Therapeutics during the fourth quarter worth about $31,000. US Bancorp DE grew its holdings in shares of Nektar Therapeutics by 257.8% during the first quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 36,085 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Nektar Therapeutics during the first quarter worth about $41,000. Institutional investors and hedge funds own 75.88% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKTR. William Blair reiterated a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. HC Wainwright boosted their target price on shares of Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a 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. B. Riley boosted their target price on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Finally, BTIG Research boosted their target price on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $88.33.

Nektar Therapeutics Trading Up 6.0%

NKTR traded up $1.31 during trading on Friday, hitting $23.06. 912,008 shares of the company's stock were exchanged, compared to its average volume of 717,890. Nektar Therapeutics has a 1 year low of $6.45 and a 1 year high of $37.38. The stock has a 50 day moving average price of $19.66 and a 200 day moving average price of $14.14. The firm has a market cap of $286.17 million, a P/E ratio of -2.62 and a beta of 0.95.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.13) by $0.18. The company 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 380.63%. Analysts forecast that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

About Nektar Therapeutics

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.