Nektar Therapeutics (NASDAQ:NKTR) Stake Reduced by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp has reduced its stake in Nektar Therapeutics by 4.1%, owning approximately 0.21% of the company as of the last quarter.
• Nektar Therapeutics reported a quarterly EPS of ($3.30), missing analysts' expectations and showing a negative net margin of 152.49%.
• Several institutional investors have recently increased their holdings in Nektar, with 75.88% of the stock currently owned by institutional investors.

Bank of New York Mellon Corp reduced its stake in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 393,293 shares of the biopharmaceutical company's stock after selling 17,023 shares during the quarter. Bank of New York Mellon Corp owned about 0.21% of Nektar Therapeutics worth $267,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Two Sigma Securities LLC boosted its position in Nektar Therapeutics by 56.3% during the 4th quarter. Two Sigma Securities LLC now owns 27,654 shares of the biopharmaceutical company's stock worth $26,000 after acquiring an additional 9,958 shares during the period. Harvest Investment Services LLC acquired a new position in Nektar Therapeutics during the 4th quarter worth $27,000. US Asset Management LLC acquired a new position in Nektar Therapeutics during the 4th quarter worth $31,000. ProShare Advisors LLC boosted its position in Nektar Therapeutics by 49.0% during 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. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Nektar Therapeutics during the 1st quarter worth $41,000. 75.88% of the stock is currently owned by institutional investors.

Nektar Therapeutics Trading Down 3.1%

Shares of NKTR stock opened at $22.56 on Wednesday. The stock has a 50 day moving average of $18.96 and a two-hundred day moving average of $13.96. 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 $279.97 million, a P/E ratio of -2.35 and a beta of 0.95.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($3.30) EPS for the quarter, missing analysts' consensus estimates of ($2.70) by ($0.60). Nektar Therapeutics had a negative net margin of 152.49% and a negative return on equity of 329.54%. The firm had revenue of $10.46 million during the quarter, compared to the consensus estimate of $15.61 million. During the same quarter in the previous year, the business posted ($2.70) earnings per share. Sell-side analysts predict that Nektar Therapeutics will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. B. Riley boosted their price target on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. BTIG Research boosted their price target on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Jefferies Financial Group raised Nektar Therapeutics from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $15.00 to $30.00 in a research note on Friday, April 11th. HC Wainwright boosted their price objective on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Finally, William Blair reissued a "market perform" rating on shares of Nektar Therapeutics in a research note on Monday, May 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

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.

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