Connor Clark & Lunn Investment Management Ltd. Lowers Holdings in Nektar Therapeutics $NKTR

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in Nektar Therapeutics (NASDAQ:NKTR) by 49.6%, selling 362,571 shares during the 1st quarter, leaving them with 368,304 shares valued at approximately $250,000.
• Several institutional investors, including Two Sigma Securities and Price T Rowe Associates, have increased their holdings in Nektar, reflecting continued interest in the biopharmaceutical firm.
• Analysts have varying opinions on Nektar Therapeutics, with a consensus rating of "Moderate Buy" and a price target averaging $88.33, while recent earnings reported a loss smaller than expected.

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 49.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 368,304 shares of the biopharmaceutical company's stock after selling 362,571 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.20% of Nektar Therapeutics worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Two Sigma Securities LLC raised its position in Nektar Therapeutics by 56.3% during the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 9,958 shares during the last quarter. Harvest Investment Services LLC bought a new position in Nektar Therapeutics during the 4th quarter valued at approximately $27,000. US Asset Management LLC bought a new position in Nektar Therapeutics during the 4th quarter valued at approximately $31,000. US Bancorp DE raised its position in Nektar Therapeutics by 257.8% during the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 36,085 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Nektar Therapeutics by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 16,543 shares during the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKTR. William Blair reaffirmed a "market perform" rating on shares of Nektar Therapeutics in a research report on Monday, May 12th. HC Wainwright upped their price target on Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. BTIG Research upped their price target on Nektar Therapeutics from $60.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Wall Street Zen lowered Nektar Therapeutics from a "hold" rating to a "sell" rating in a research report on Wednesday, May 14th. Finally, B. Riley increased their target price on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Nektar Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 1,573 shares of Nektar Therapeutics stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $26.59, for a total transaction of $41,826.07. Following the completion of the transaction, the chief executive officer owned 69,340 shares in the company, valued at approximately $1,843,750.60. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 2,974 shares of company stock worth $79,079 in the last three months. 3.71% of the stock is currently owned by insiders.

Nektar Therapeutics Stock Up 6.0%

Shares of NASDAQ:NKTR traded up $1.64 during trading on Tuesday, hitting $28.78. The stock had a trading volume of 444,315 shares, compared to its average volume of 700,130. Nektar Therapeutics has a 12 month low of $6.45 and a 12 month high of $37.38. The company has a market capitalization of $547.40 million, a PE ratio of -3.27 and a beta of 0.95. The firm's fifty day moving average is $23.62 and its 200 day moving average is $15.34.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share for the quarter, beating analysts' consensus estimates of ($3.13) by $0.18. The company had revenue of $11.18 million during the quarter, compared to analyst estimates of $9.42 million. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%. Equities research analysts expect that Nektar Therapeutics will post -0.72 EPS for the current fiscal 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.