Nektar Therapeutics (NASDAQ:NKTR) Shares Purchased by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Nektar Therapeutics by 253.1%, owning over 1.6 million shares worth approximately $1.1 million.
• Nektar Therapeutics reported a disappointing earnings per share of ($3.30), missing analysts' estimates by ($0.60) with revenues of $10.46 million.
• Despite recent downgrades, several brokerages have upgraded Nektar Therapeutics, indicating a consensus price target of $88.33 with an average rating of "Moderate Buy."

Mackenzie Financial Corp lifted its stake in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 253.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,658,745 shares of the biopharmaceutical company's stock after buying an additional 1,188,976 shares during the period. Mackenzie Financial Corp owned approximately 0.89% of Nektar Therapeutics worth $1,128,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nantahala Capital Management LLC increased its stake in shares of Nektar Therapeutics by 90.0% during the fourth quarter. Nantahala Capital Management LLC now owns 7,810,000 shares of the biopharmaceutical company's stock worth $7,263,000 after acquiring an additional 3,700,000 shares during the period. Woodline Partners LP increased its holdings in shares of Nektar Therapeutics by 187.3% in the 4th quarter. Woodline Partners LP now owns 4,974,512 shares of the biopharmaceutical company's stock valued at $4,626,000 after purchasing an additional 3,242,841 shares in the last quarter. Altium Capital Management LLC lifted its stake in shares of Nektar Therapeutics by 26,172.0% in the fourth quarter. Altium Capital Management LLC now owns 3,000,000 shares of the biopharmaceutical company's stock valued at $2,790,000 after purchasing an additional 2,988,581 shares during the period. 22NW LP purchased a new stake in Nektar Therapeutics during the fourth quarter worth about $2,038,000. Finally, Diadema Partners LP acquired a new position in Nektar Therapeutics during the fourth quarter worth about $650,000. Institutional investors and hedge funds own 75.88% of the company's stock.

Nektar Therapeutics Stock Down 3.1%

Shares of NASDAQ NKTR traded down $0.70 during trading on Thursday, hitting $21.75. 339,564 shares of the company traded hands, compared to its average volume of 856,784. The firm has a market capitalization of $269.92 million, a P/E ratio of -2.27 and a beta of 0.95. The company has a 50-day moving average price of $19.20 and a 200-day moving average price of $14.02. Nektar Therapeutics has a 1 year low of $6.45 and a 1 year high of $37.38.

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, missing analysts' consensus estimates of ($2.58) by ($0.37). Nektar Therapeutics had a negative return on equity of 329.54% and a negative net margin of 152.49%. Research analysts predict that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NKTR. Jefferies Financial Group upgraded Nektar Therapeutics from a "hold" rating to a "buy" rating and upped their price target for the stock from $15.00 to $30.00 in a report on Friday, April 11th. B. Riley raised their price target on Nektar Therapeutics from $60.00 to $85.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Wall Street Zen lowered Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. William Blair reaffirmed a "market perform" rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. Finally, HC Wainwright raised their price objective on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.