Nektar Therapeutics $NKTR Holdings Boosted by Iridian Asset Management LLC CT

Key Points

• Iridian Asset Management increased its Nektar Therapeutics stake by 144.1% in the third quarter to 94,697 shares valued at approximately $5.7 million. Institutional investors and hedge funds collectively own 75.88% of NKTR.
• Nektar’s stock opened at $37.22, down 3.7%, and remains well below its 12-month high of $109. The company reported a quarterly loss of $1.23 per share, though this beat analysts’ estimate of a $1.97 loss.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $130.67, despite ratings ranging from “Strong Buy” to “Sell.”

Iridian Asset Management LLC CT boosted its holdings in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 144.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,697 shares of the biopharmaceutical company's stock after purchasing an additional 55,895 shares during the quarter. Nektar Therapeutics comprises approximately 2.0% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 14th largest holding. Iridian Asset Management LLC CT owned about 0.28% of Nektar Therapeutics worth $5,733,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Two Seas Capital LP increased its stake in Nektar Therapeutics by 8.2% during the 3rd quarter. Two Seas Capital LP now owns 3,345,978 shares of the biopharmaceutical company's stock valued at $202,582,000 after purchasing an additional 253,744 shares in the last quarter. Braidwell LP lifted its stake in shares of Nektar Therapeutics by 112.7% in the second quarter. Braidwell LP now owns 473,617 shares of the biopharmaceutical company's stock valued at $33,063,000 after buying an additional 250,916 shares in the last quarter. Emerald Advisers LLC lifted its stake in shares of Nektar Therapeutics by 2.7% in the first quarter. Emerald Advisers LLC now owns 394,604 shares of the biopharmaceutical company's stock valued at $28,392,000 after buying an additional 10,262 shares in the last quarter. Orbimed Advisors LLC bought a new position in shares of Nektar Therapeutics in the first quarter valued at $19,786,000. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in shares of Nektar Therapeutics by 1.2% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 256,106 shares of the biopharmaceutical company's stock valued at $18,427,000 after buying an additional 2,981 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company's stock.

Insider Buying and Selling at Nektar Therapeutics

In related news, CEO Howard Robin sold 418 shares of the business's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $71.98, for a total transaction of $30,087.64. Following the transaction, the chief executive officer directly owned 54,627 shares in the company, valued at approximately $3,932,051.46. The trade was a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is owned by insiders.

Nektar Therapeutics Trading Down 3.7%

NASDAQ NKTR opened at $37.22 on Friday. The business has a fifty day simple moving average of $59.27 and a 200 day simple moving average of $67.48. Nektar Therapeutics has a 12 month low of $33.40 and a 12 month high of $109.00. The firm has a market capitalization of $1.27 billion, a P/E ratio of -5.56 and a beta of 1.26.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.97) by $0.74. Nektar Therapeutics had a negative net margin of 287.84% and a negative return on equity of 37.87%. The firm had revenue of $10.13 million for the quarter, compared to the consensus estimate of $10.43 million. As a group, sell-side analysts predict that Nektar Therapeutics will post -8.08 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on NKTR. UBS Group started coverage on shares of Nektar Therapeutics in a research report on Monday, October 12th. They set a "neutral" rating and a $53.00 target price for the company. TD Cowen raised shares of Nektar Therapeutics to a "strong-buy" rating in a research report on Monday, August 24th. JPMorgan Chase & Co. began coverage on Nektar Therapeutics in a research note on Friday, August 21st. They set a "neutral" rating and a $65.00 price target for the company. Leerink Partners assumed coverage on Nektar Therapeutics in a report on Monday, October 12th. They set an "outperform" rating and a $130.00 price objective for the company. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Nektar Therapeutics in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $130.67.

About Nektar Therapeutics

Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines for autoimmune, inflammatory and other serious diseases. The company uses its proprietary biologics and polymer-conjugation technologies to design therapies intended to improve immune-system regulation, drug activity and dosing convenience.

Nektar's pipeline includes rezpegaldesleukin, an investigational treatment designed to expand regulatory T cells and potentially restore immune tolerance in conditions such as atopic dermatitis, alopecia areata and other autoimmune diseases.

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