Invesco Ltd. Lowers Holdings in Nektar Therapeutics $NKTR

Key Points

• Invesco Ltd. reduced its holdings in Nektar Therapeutics by 4.9%, owning 623,218 shares after selling 32,308 during the first quarter, valuing its stake at $424,000.
• Analysts have set new price targets for Nektar Therapeutics, with B. Riley raising it from $60 to $85 and BTIG increasing theirs from $60 to $100, while the consensus target price stands at $88.33.
• Nektar's stock has experienced significant growth, with shares up 11.7%, and the company recently reported earnings of ($2.95) per share, beating analyst expectations.

Invesco Ltd. lessened its stake in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 623,218 shares of the biopharmaceutical company's stock after selling 32,308 shares during the quarter. Invesco Ltd. owned 0.33% of Nektar Therapeutics worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. US Asset Management LLC purchased a new position in shares of Nektar Therapeutics in the 4th quarter worth about $31,000. US Bancorp DE raised its position in shares of Nektar Therapeutics by 257.8% in the 1st quarter. US Bancorp DE now owns 50,085 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 36,085 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Nektar Therapeutics by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 50,277 shares of the biopharmaceutical company's stock worth $47,000 after purchasing an additional 16,543 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Nektar Therapeutics in the 1st quarter worth about $41,000. Finally, Cerity Partners LLC bought a new stake in Nektar Therapeutics in the 1st quarter worth about $52,000. Hedge funds and other institutional investors own 75.88% of the company's stock.

Analysts Set New Price Targets

NKTR has been the subject of several research analyst reports. William Blair reiterated a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. B. Riley lifted their price objective on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. BTIG Research lifted their price objective on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. HC Wainwright lifted their price objective on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, Wall Street Zen downgraded Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.33.

Nektar Therapeutics Stock Up 11.7%

Shares of NASDAQ:NKTR opened at $40.18 on Friday. The firm's 50 day moving average price is $25.78 and its 200-day moving average price is $16.35. Nektar Therapeutics has a twelve month low of $6.45 and a twelve month high of $40.45. The stock has a market capitalization of $764.22 million, a PE ratio of -4.57 and a beta of 1.06.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share (EPS) 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 the consensus estimate of $9.42 million. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%. Analysts expect that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Howard W. Robin sold 1,573 shares of the business's stock in a transaction that occurred 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 directly owned 69,340 shares in the company, valued at approximately $1,843,750.60. The trade was a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 4,959 shares of company stock worth $138,917. Insiders own 5.25% of the company's stock.

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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