Cwm LLC Has $72,000 Stake in Nektar Therapeutics (NASDAQ:NKTR)

Key Points

• CWM LLC increased its holdings in Nektar Therapeutics by over 4,500%, acquiring an additional 103,252 shares and owning approximately 0.06% of the company, valued at $72,000.
• Several other institutional investors also boosted their stakes, leading to 75.88% of the company’s stock being owned by institutional investors and hedge funds.
• Nektar's stock received multiple upgrades from analysts, with target prices reaching up to $120.00, while the company has a consensus rating of "Moderate Buy."

CWM LLC lifted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 4,544.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,524 shares of the biopharmaceutical company's stock after purchasing an additional 103,252 shares during the period. CWM LLC owned about 0.06% of Nektar Therapeutics worth $72,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NKTR. Two Sigma Securities LLC increased its position in shares of Nektar Therapeutics by 56.3% in the 4th 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. Harvest Investment Services LLC bought a new position in Nektar Therapeutics in the 4th quarter worth about $27,000. US Asset Management LLC bought a new position in Nektar Therapeutics in the 4th quarter worth about $31,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Nektar Therapeutics in the 1st quarter worth approximately $41,000. Finally, ProShare Advisors LLC lifted its stake in shares of 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 during the period. 75.88% of the stock is owned by hedge funds and other institutional investors.

Nektar Therapeutics Trading Down 1.7%

Shares of Nektar Therapeutics stock traded down $0.40 during mid-day trading on Tuesday, reaching $22.87. 138,851 shares of the stock were exchanged, compared to its average volume of 861,935. The company has a market cap of $283.84 million, a price-to-earnings ratio of -2.38 and a beta of 0.95. The firm has a 50-day simple moving average of $18.71 and a 200 day simple moving average of $13.90. Nektar Therapeutics has a fifty-two week low of $6.45 and a fifty-two week high of $37.38.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.70) by ($0.60). The firm 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 329.54% and a negative net margin of 152.49%. During the same quarter last year, the business earned ($2.70) EPS. On average, research analysts predict that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on NKTR shares. B. Riley increased their target price 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. BTIG Research upped their price objective on shares of Nektar Therapeutics from $60.00 to $100.00 and gave the company a "buy" rating in a research note 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. Jefferies Financial Group raised shares of Nektar Therapeutics from a "hold" rating to a "buy" rating and upped their price objective for the stock from $15.00 to $30.00 in a report on Friday, April 11th. Finally, HC Wainwright upped their price objective on shares of 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 given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.