Jacobs Levy Equity Management Inc. Has $2.05 Million Holdings in 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. lifted its holdings in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 14.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,007,928 shares of the biopharmaceutical company's stock after purchasing an additional 380,967 shares during the period. Jacobs Levy Equity Management Inc. owned 1.62% of Nektar Therapeutics worth $2,045,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NKTR. Almitas Capital LLC lifted its stake in shares of Nektar Therapeutics by 401.1% in the 1st quarter. Almitas Capital LLC now owns 4,610,872 shares of the biopharmaceutical company's stock valued at $3,135,000 after purchasing an additional 3,690,647 shares during the last quarter. Woodline Partners LP lifted its position in Nektar Therapeutics by 187.3% during the 4th 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. AQR Capital Management LLC lifted its position in Nektar Therapeutics by 336.9% during the 1st 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 lifted its position in Nektar Therapeutics by 253.1% during the 1st 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, Deuterium Capital Management LLC acquired a new position in Nektar Therapeutics during the 1st quarter worth $381,000. Institutional investors and hedge funds own 75.88% of the company's stock.

Nektar Therapeutics Stock Performance

Shares of NKTR opened at $48.18 on Thursday. The company has a 50-day simple moving average of $27.08 and a 200-day simple moving average of $17.02. The firm has a market capitalization of $916.38 million, a P/E ratio of -5.48 and a beta of 1.06. Nektar Therapeutics has a 52 week low of $6.45 and a 52 week high of $49.01.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($2.95) EPS for the quarter, beating 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 business had revenue of $11.18 million during the quarter, compared to analyst estimates of $9.42 million. As a group, equities analysts forecast that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Insider Activity

In related news, CEO Howard W. Robin sold 6,666 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $38.53, for a total value of $256,840.98. Following the completion of the transaction, the chief executive officer owned 56,008 shares of the company's stock, valued at $2,157,988.24. This represents a 10.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jonathan Zalevsky sold 1,721 shares of the 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 18,512 shares of company stock valued at $627,540 in the last three months. Company insiders own 5.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NKTR shares. BTIG Research boosted their target price on shares of 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 boosted their target price on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Wall Street Zen cut shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. Finally, HC Wainwright upped their price objective on shares of Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

About Nektar Therapeutics

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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