IFP Advisors Inc Invests $124,000 in Nektar Therapeutics $NKTR

Key Points

• IFP Advisors Inc has invested $124,000 to acquire 4,810 shares of Nektar Therapeutics during the second quarter.
• Insider Jonathan Zalevsky sold 1,721 shares of Nektar Therapeutics stock, totaling approximately $57,688, while CEO Howard W. Robin sold 6,666 shares, amounting to about $311,236.
• Nektar Therapeutics reported earnings of ($2.95) per share, surpassing analysts' expectations, and its stock has a market capitalization of $1.10 billion.

IFP Advisors Inc purchased a new position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,810 shares of the biopharmaceutical company's stock, valued at approximately $124,000.

Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC lifted its holdings in shares of Nektar Therapeutics by 1.4% during the first quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company's stock worth $4,961,000 after purchasing an additional 100,645 shares during the period. Gainplan LLC acquired a new position in shares of Nektar Therapeutics during the second quarter worth $388,000. Nuveen LLC acquired a new position in shares of Nektar Therapeutics during the first quarter worth $222,000. Fred Alger Management LLC acquired a new position in shares of Nektar Therapeutics during the first quarter worth $344,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Nektar Therapeutics during the first quarter worth $41,000. Institutional investors and hedge funds own 75.88% of the company's stock.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 1,721 shares of the company's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $33.52, for a total value of $57,687.92. Following the completion of the sale, the insider directly owned 17,462 shares of the company's stock, valued at approximately $585,326.24. This represents a 8.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Howard W. Robin sold 6,666 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total transaction of $311,235.54. Following the completion of the sale, the chief executive officer directly owned 49,342 shares of the company's stock, valued at $2,303,777.98. The trade was a 11.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,178 shares of company stock valued at $938,776 over the last ninety days. 5.25% of the stock is currently owned by insiders.

Nektar Therapeutics Price Performance

NKTR opened at $57.77 on Friday. Nektar Therapeutics has a fifty-two week low of $6.45 and a fifty-two week high of $63.92. The firm has a market capitalization of $1.10 billion, a PE ratio of -6.57 and a beta of 1.18. The company's 50-day moving average is $44.56 and its 200 day moving average is $25.28.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. HC Wainwright lifted their price target on shares of Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nektar Therapeutics in a research report on Wednesday, October 8th. B. Riley increased their price target on Nektar Therapeutics from $85.00 to $105.00 and gave the stock a "buy" rating in a report on Tuesday, September 23rd. Finally, BTIG Research reiterated a "buy" rating and set a $100.00 price target on shares of Nektar Therapeutics in a report on Friday, September 19th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.67.

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.

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