Healthcare of Ontario Pension Plan Trust Fund Takes $1.14 Million Position in Nektar Therapeutics $NKTR

Key Points

• Healthcare of Ontario Pension Plan Trust Fund acquired 15,813 Nektar Therapeutics shares worth approximately $1.14 million, while institutional investors collectively own 75.88% of NKTR.
• Analysts maintain a generally positive outlook, with 10 Buy ratings, one Hold and one Sell; the average price target is $150, although targets range from $80 to $185.
• Nektar reported a first-quarter loss of $1.82 per share, worse than the expected $1.58 loss, despite revenue of $10.86 million exceeding estimates; insiders have sold 21,862 shares worth about $1.38 million over the past 90 days.

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Nektar Therapeutics (NASDAQ:NKTR - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,813 shares of the biopharmaceutical company's stock, valued at approximately $1,138,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKTR. Iridian Asset Management LLC CT purchased a new stake in Nektar Therapeutics in the fourth quarter worth $411,000. Gainplan LLC boosted its stake in shares of Nektar Therapeutics by 168.1% during the fourth quarter. Gainplan LLC now owns 13,500 shares of the biopharmaceutical company's stock valued at $571,000 after purchasing an additional 8,465 shares during the period. BVF Inc. IL boosted its stake in shares of Nektar Therapeutics by 22.2% during the fourth quarter. BVF Inc. IL now owns 1,559,595 shares of the biopharmaceutical company's stock valued at $65,940,000 after purchasing an additional 283,000 shares during the period. SG Americas Securities LLC bought a new position in shares of Nektar Therapeutics in the fourth quarter worth about $463,000. Finally, Sectoral Asset Management Inc. bought a new position in shares of Nektar Therapeutics in the fourth quarter worth about $570,000. 75.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on NKTR. HC Wainwright boosted their price objective on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Nektar Therapeutics in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a research note on Sunday, May 17th. BTIG Research increased their price objective on Nektar Therapeutics from $151.00 to $178.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Finally, Wedbush dropped their price objective on Nektar Therapeutics from $95.00 to $80.00 and set a "neutral" rating on the stock in a research note on Monday, May 11th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $150.00.

Nektar Therapeutics Stock Performance

NASDAQ:NKTR opened at $70.67 on Friday. The firm has a 50-day simple moving average of $65.66 and a 200-day simple moving average of $66.44. Nektar Therapeutics has a one year low of $21.02 and a one year high of $109.00. The firm has a market cap of $2.39 billion, a P/E ratio of -8.39 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.58) by ($0.24). The business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. On average, research analysts predict that Nektar Therapeutics will post -9.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jonathan Zalevsky sold 5,681 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $70.00, for a total value of $397,670.00. Following the completion of the transaction, the insider directly owned 9,756 shares of the company's stock, valued at approximately $682,920. The trade was a 36.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Howard W. Robin sold 10,000 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total value of $603,200.00. Following the sale, the chief executive officer owned 65,045 shares of the company's stock, valued at $3,923,514.40. This trade represents a 13.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,862 shares of company stock valued at $1,379,205. 2.50% of the stock is owned by company insiders.

Nektar Therapeutics Company 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.

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