Nektar Therapeutics (NASDAQ:NKTR) Shares Sold by Millennium Management LLC

Millennium Management LLC trimmed its stake in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 10.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,524,946 shares of the biopharmaceutical company's stock after selling 536,773 shares during the period. Millennium Management LLC owned about 2.45% of Nektar Therapeutics worth $4,208,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nantahala Capital Management LLC increased its stake in Nektar Therapeutics by 90.0% during the 4th quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company's stock worth $7,263,000 after buying an additional 3,700,000 shares during the period. Renaissance Technologies LLC increased its stake in Nektar Therapeutics by 17.5% during the 4th quarter. Renaissance Technologies LLC now owns 3,910,786 shares of the biopharmaceutical company's stock worth $3,637,000 after buying an additional 583,153 shares during the period. Altium Capital Management LLC increased its stake in Nektar Therapeutics by 26,172.0% during the 4th quarter. Altium Capital Management LLC now owns 3,000,000 shares of the biopharmaceutical company's stock worth $2,790,000 after buying an additional 2,988,581 shares during the period. 22NW LP purchased a new stake in Nektar Therapeutics during the 4th quarter worth approximately $2,038,000. Finally, Monaco Asset Management SAM increased its stake in Nektar Therapeutics by 1.8% during the 4th quarter. Monaco Asset Management SAM now owns 2,032,868 shares of the biopharmaceutical company's stock worth $1,891,000 after buying an additional 35,648 shares during the period. 75.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKTR has been the topic of several recent research reports. Jefferies Financial Group raised shares of Nektar Therapeutics from a "hold" rating to a "buy" rating and upped their target price for the stock from $1.00 to $2.00 in a research note on Friday, April 11th. Wall Street Zen cut shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. William Blair reiterated a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. Oppenheimer upgraded shares of Nektar Therapeutics from a "market perform" rating to an "outperform" rating and set a $6.00 price target for the company in a report on Friday, March 14th. Finally, HC Wainwright reiterated a "buy" rating and set a $6.50 price target on shares of Nektar Therapeutics in a report on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Nektar Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $4.50.

Nektar Therapeutics Stock Down 5.9%

NASDAQ NKTR traded down $0.05 on Tuesday, hitting $0.75. 2,454,893 shares of the stock were exchanged, compared to its average volume of 1,837,290. The company has a 50-day moving average price of $0.66 and a 200-day moving average price of $0.83. Nektar Therapeutics has a fifty-two week low of $0.43 and a fifty-two week high of $1.52. The company has a market cap of $139.48 million, a PE ratio of -0.89 and a beta of 0.62.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.04). The business had revenue of $10.46 million for the quarter, compared to analyst estimates of $15.61 million. Nektar Therapeutics had a negative return on equity of 173.28% and a negative net margin of 180.70%. During the same quarter in the prior year, the company earned ($0.18) EPS. As a group, equities research analysts predict that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Nektar Therapeutics Company 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.