Bank of New York Mellon Corp Cuts Stock Position in Nektar Therapeutics (NASDAQ:NKTR)

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 lowered its stake in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Two Sigma Securities LLC boosted its holdings in Nektar Therapeutics by 56.3% in the fourth 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 in the last quarter. Harvest Investment Services LLC acquired a new stake in Nektar Therapeutics in the fourth quarter worth about $27,000. US Asset Management LLC acquired a new stake in Nektar Therapeutics in the fourth quarter worth about $31,000. ProShare Advisors LLC boosted its holdings in Nektar Therapeutics by 49.0% in the fourth 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Nektar Therapeutics in the first quarter worth about $41,000. Institutional investors own 75.88% of the company's stock.

Nektar Therapeutics Price Performance

NKTR stock traded up $1.31 during trading on Friday, hitting $23.06. 912,008 shares of the company traded hands, compared to its average volume of 717,890. The stock's 50-day simple moving average is $19.66 and its 200 day simple moving average is $14.14. The company has a market cap of $286.17 million, a PE ratio of -2.62 and a beta of 0.95. 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 announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) earnings per share for the quarter, beating the consensus estimate of ($3.13) by $0.18. The company had revenue of $11.18 million during the quarter, compared to analysts' expectations of $9.42 million. Nektar Therapeutics had a negative return on equity of 380.63% and a negative net margin of 163.17%. Research analysts expect that Nektar Therapeutics will post -0.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on NKTR shares. HC Wainwright raised their price target on Nektar Therapeutics to $120.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. William Blair reaffirmed a "market perform" rating on shares of Nektar Therapeutics in a report on Monday, May 12th. BTIG Research lifted their target price on Nektar Therapeutics from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. B. Riley lifted their target price on Nektar Therapeutics from $60.00 to $85.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Finally, Wall Street Zen downgraded Nektar Therapeutics from a "hold" rating to a "sell" rating in a report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Nektar Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target 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.