Jacobs Levy Equity Management Inc. Buys 380,967 Shares of Nektar Therapeutics $NKTR

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in Nektar Therapeutics by 14.5%, owning 3,007,928 shares valued at approximately $2.05 million as of the latest SEC filing.
• Shares of Nektar Therapeutics opened at $48.18, with a market capitalization of $916.38 million and a 52-week trading range between $6.45 and $49.01.
• Institutional investors hold 75.88% of Nektar's stock, indicating strong institutional interest and confidence in the company's growth potential.

Jacobs Levy Equity Management Inc. grew its position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 14.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,007,928 shares of the biopharmaceutical company's stock after acquiring an additional 380,967 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.62% of Nektar Therapeutics worth $2,045,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP increased its stake in Nektar Therapeutics by 187.3% during the fourth quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company's stock worth $4,626,000 after acquiring an additional 3,242,841 shares during the last quarter. Almitas Capital LLC increased its stake in Nektar Therapeutics by 401.1% during the first quarter. Almitas Capital LLC now owns 4,610,872 shares of the biopharmaceutical company's stock worth $3,135,000 after acquiring an additional 3,690,647 shares during the last quarter. AQR Capital Management LLC increased its stake in Nektar Therapeutics by 336.9% during the first quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock worth $2,463,000 after acquiring an additional 2,807,595 shares during the last quarter. Mackenzie Financial Corp increased its stake in Nektar Therapeutics by 253.1% during the first quarter. Mackenzie Financial Corp now owns 1,658,745 shares of the biopharmaceutical company's stock worth $1,128,000 after acquiring an additional 1,188,976 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Nektar Therapeutics by 37.4% during the fourth quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,580,916 shares of the biopharmaceutical company's stock worth $1,470,000 after acquiring an additional 430,087 shares during the last quarter. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jonathan Zalevsky sold 1,721 shares of Nektar Therapeutics stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $33.52, for a total transaction of $57,687.92. Following the sale, the insider directly owned 17,462 shares of the company's stock, valued at $585,326.24. This trade represents a 8.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Howard W. Robin sold 6,666 shares of Nektar Therapeutics stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total value of $311,235.54. Following the sale, the chief executive officer directly owned 49,342 shares in the company, valued at approximately $2,303,777.98. This trade represents a 11.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,178 shares of company stock worth $938,776. Corporate insiders own 3.71% of the company's stock.

Nektar Therapeutics Stock Performance

Shares of NKTR stock traded up $0.88 during mid-day trading on Tuesday, hitting $49.89. 1,497,258 shares of the stock traded hands, compared to its average volume of 1,099,389. Nektar Therapeutics has a twelve month low of $6.45 and a twelve month high of $50.53. The firm has a market cap of $948.91 million, a price-to-earnings ratio of -5.67 and a beta of 1.06. The company's 50-day simple moving average is $29.07 and its 200-day simple moving average is $18.06.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BTIG Research upped their target price on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. B. Riley upped 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. Finally, HC Wainwright upped their target price on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.33.

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.