Nantahala Capital Management LLC Decreases Holdings in Nektar Therapeutics $NKTR

Key Points

• Nantahala Capital Management LLC has reduced its holdings in Nektar Therapeutics by 0.3%, selling 20,949 shares during the first quarter, which brings its ownership down to approximately 4.19% worth about $5.3 million.
• Several institutional investors have made significant moves with Nektar's stock, including Ieq Capital LLC increasing its stake by over 2,400%.
• Despite a recent downgrade from Wall Street Zen to a "sell" rating, the stock has received multiple 'buy' ratings with price targets ranging from $60 to $120 from other firms.

Nantahala Capital Management LLC trimmed its position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 0.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,789,051 shares of the biopharmaceutical company's stock after selling 20,949 shares during the period. Nantahala Capital Management LLC owned about 4.19% of Nektar Therapeutics worth $5,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Two Sigma Securities LLC grew its holdings in shares of Nektar Therapeutics by 56.3% in the fourth quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 9,958 shares during the last quarter. US Asset Management LLC purchased a new stake in Nektar Therapeutics in the 4th quarter valued at about $31,000. Algert Global LLC bought a new position in Nektar Therapeutics in the 1st quarter worth about $33,000. US Bancorp DE grew its stake in 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 acquiring an additional 36,085 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in 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 acquiring an additional 16,543 shares in the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. William Blair restated a "market perform" rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. HC Wainwright increased their target price on shares of Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. BTIG Research increased their target price on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. Finally, B. Riley upped their price target on shares of Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Nektar Therapeutics 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 traded up $4.20 during midday trading on Friday, reaching $40.18. The company's stock had a trading volume of 1,705,533 shares, compared to its average volume of 799,520. The firm has a market capitalization of $764.22 million, a PE ratio of -4.57 and a beta of 1.06. Nektar Therapeutics has a twelve month low of $6.45 and a twelve month high of $40.45. The stock has a fifty day moving average of $25.78 and a 200 day moving average of $16.35.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $11.18 million for the quarter, compared to analyst estimates of $9.42 million. Nektar Therapeutics had a negative net margin of 163.17% and a negative return on equity of 631.43%. Sell-side analysts anticipate that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Howard W. Robin sold 1,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $30.16, for a total transaction of $45,240.00. Following the sale, the chief executive officer owned 67,840 shares in the company, valued at approximately $2,046,054.40. This trade represents a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 4,959 shares of company stock worth $138,917 in the last quarter. 5.25% of the stock is currently owned by company insiders.

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.