Peapod Lane Capital LLC reduced its stake in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 47.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 577,238 shares of the biopharmaceutical company's stock after selling 530,278 shares during the period. Peapod Lane Capital LLC owned approximately 0.31% of Nektar Therapeutics worth $393,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in NKTR. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Nektar Therapeutics by 12.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 730,875 shares of the biopharmaceutical company's stock valued at $680,000 after buying an additional 80,034 shares in the last quarter. Monaco Asset Management SAM grew its position in Nektar Therapeutics by 1.8% in the fourth quarter. Monaco Asset Management SAM now owns 2,032,868 shares of the biopharmaceutical company's stock valued at $1,891,000 after acquiring an additional 35,648 shares in the last quarter. Sei Investments Co. raised its stake in shares of Nektar Therapeutics by 50.6% during the fourth quarter. Sei Investments Co. now owns 94,152 shares of the biopharmaceutical company's stock valued at $88,000 after purchasing an additional 31,654 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Nektar Therapeutics by 29.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,182,995 shares of the biopharmaceutical company's stock valued at $1,100,000 after purchasing an additional 269,695 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Nektar Therapeutics by 10.4% during the fourth quarter. Wellington Management Group LLP now owns 522,409 shares of the biopharmaceutical company's stock worth $486,000 after purchasing an additional 49,319 shares in the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
Nektar Therapeutics Price Performance
NASDAQ:NKTR traded down $0.09 during mid-day trading on Friday, reaching $25.01. The stock had a trading volume of 1,207,020 shares, compared to its average volume of 504,145. The company has a market capitalization of $310.37 million, a price-to-earnings ratio of -2.61 and a beta of 0.94. Nektar Therapeutics has a 1-year low of $6.48 and a 1-year high of $37.38. The stock's 50 day simple moving average is $14.22 and its two-hundred day simple moving average is $12.89.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last issued its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($3.30) EPS for the quarter, missing the consensus estimate of ($2.70) by ($0.60). The firm had revenue of $10.46 million during 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 in the previous year, the business posted ($2.70) EPS. Sell-side analysts anticipate that Nektar Therapeutics will post -0.72 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms recently issued reports on NKTR. HC Wainwright lifted their price target on shares of Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Jefferies Financial Group upgraded Nektar Therapeutics from a "hold" rating to a "buy" rating and raised their target price for the company from $15.00 to $30.00 in a research note on Friday, April 11th. William Blair reiterated a "market perform" rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. Wall Street Zen lowered Nektar Therapeutics from a "hold" rating to a "sell" rating in a research note on Wednesday, May 14th. Finally, B. Riley lifted their price objective on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $88.33.
Check Out Our Latest Stock Analysis on Nektar Therapeutics
About Nektar Therapeutics
(
Free Report)
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.
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