XTX Topco Ltd Lowers Stock Holdings in Nektar Therapeutics $NKTR

Key Points

• XTX Topco Ltd has reduced its stake in Nektar Therapeutics by 76.5%, now owning only 57,418 shares after selling 187,283 shares.
• Analysts have mixed views on Nektar, with one downgrading the stock to "sell," while six have issued "buy" ratings, reflecting a total average price target of $88.33.
• Nektar Therapeutics reported earnings of ($2.95) per share, beating estimates, with revenues of $11.18 million for the last quarter.

XTX Topco Ltd cut its holdings in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 76.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,418 shares of the biopharmaceutical company's stock after selling 187,283 shares during the period. XTX Topco Ltd's holdings in Nektar Therapeutics were worth $39,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of NKTR. Deuterium Capital Management LLC bought a new position in Nektar Therapeutics during the first quarter valued at $381,000. Mackenzie Financial Corp grew its holdings 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 valued at $1,128,000 after purchasing an additional 1,188,976 shares during the period. CWM LLC grew its holdings in Nektar Therapeutics by 4,544.5% during the first quarter. CWM LLC now owns 105,524 shares of the biopharmaceutical company's stock valued at $72,000 after purchasing an additional 103,252 shares during the period. Cerity Partners LLC bought a new position in Nektar Therapeutics during the first quarter valued at $52,000. Finally, 49 Wealth Management LLC bought a new position in Nektar Therapeutics during the first quarter valued at $56,000. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Stock Down 0.4%

Shares of NKTR stock traded down $0.10 on Wednesday, reaching $26.62. The company's stock had a trading volume of 276,136 shares, compared to its average volume of 852,954. Nektar Therapeutics has a 12-month low of $6.45 and a 12-month high of $37.38. The company has a market capitalization of $506.31 million, a P/E ratio of -3.01 and a beta of 0.95. The stock's 50 day simple moving average is $21.76 and its 200-day simple moving average is $14.77.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its quarterly earnings data 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. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%.The company had revenue of $11.18 million for the quarter, compared to the consensus estimate of $9.42 million. Research analysts expect that Nektar Therapeutics will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NKTR shares. HC Wainwright increased their price objective on Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a report on Tuesday, June 24th. William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. B. Riley increased their price objective on Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. BTIG Research raised their price target on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, Wall Street Zen lowered Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.