Nektar Therapeutics $NKTR Shares Acquired by Swiss National Bank

Key Points

• Swiss National Bank increased its Nektar Therapeutics stake by 50.2% in the first quarter, ending with 47,900 shares valued at approximately $3.45 million. Institutional investors and hedge funds collectively own 75.88% of NKTR.
• Nektar shares opened at $70.68, with a 12-month range of $21.02 to $109.00. The company reported a quarterly loss of $1.82 per share, missing estimates, while revenue of $10.86 million slightly exceeded expectations.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $150, although some firms maintained neutral or sell ratings. Company insiders sold 21,862 shares worth about $1.38 million over the past 90 days.

Swiss National Bank lifted its holdings in Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 50.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,900 shares of the biopharmaceutical company's stock after buying an additional 16,000 shares during the period. Swiss National Bank owned approximately 0.14% of Nektar Therapeutics worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC raised its holdings in Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company's stock valued at $2,463,000 after acquiring an additional 2,807,595 shares during the last quarter. BVF Inc. IL grew its position in shares of Nektar Therapeutics by 22.2% in the fourth quarter. BVF Inc. IL now owns 1,559,595 shares of the biopharmaceutical company's stock valued at $65,940,000 after purchasing an additional 283,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Nektar Therapeutics by 30.0% in the third quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company's stock valued at $53,978,000 after purchasing an additional 219,155 shares in the last quarter. Two Seas Capital LP acquired a new stake in shares of Nektar Therapeutics in the fourth quarter valued at approximately $31,506,000. Finally, Armistice Capital LLC lifted its position in Nektar Therapeutics by 122.4% during the fourth quarter. Armistice Capital LLC now owns 596,000 shares of the biopharmaceutical company's stock worth $25,199,000 after buying an additional 328,000 shares in the last quarter. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Nektar Therapeutics Trading Down 0.1%

Shares of NASDAQ NKTR opened at $70.68 on Thursday. Nektar Therapeutics has a twelve month low of $21.02 and a twelve month high of $109.00. The stock has a fifty day simple moving average of $65.52 and a 200-day simple moving average of $66.19. The stock has a market capitalization of $2.39 billion, a PE ratio of -8.39 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.58) by ($0.24). Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. The firm had revenue of $10.86 million during the quarter, compared to analysts' expectations of $10.69 million. On average, equities analysts predict that Nektar Therapeutics will post -9.37 earnings per share for the current year.

Insider Activity

In other Nektar Therapeutics news, insider Jonathan Zalevsky sold 5,681 shares of the business's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the sale, the insider directly owned 9,756 shares in the company, valued at $682,920. This represents a 36.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Howard W. Robin sold 10,000 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $60.32, for a total transaction of $603,200.00. Following the sale, the chief executive officer directly owned 65,045 shares in the company, valued at $3,923,514.40. This represents a 13.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,862 shares of company stock valued at $1,379,205. 2.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NKTR shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. Wedbush decreased their target price on shares of Nektar Therapeutics from $95.00 to $80.00 and set a "neutral" rating on the stock in a report on Monday, May 11th. Piper Sandler increased their price target on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. HC Wainwright lifted their price target on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Finally, Citigroup upped their price objective on Nektar Therapeutics from $123.00 to $151.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $150.00.

Nektar Therapeutics Profile

Nektar Therapeutics NASDAQ: NKTR is a biopharmaceutical company dedicated to discovering and developing novel drug candidates through its proprietary chemistry and immunology platforms. The company focuses on polymer conjugate technology, which enables the creation of longer-acting versions of existing drugs, and on T-cell modulatory therapies aimed at harnessing the body's immune system to treat cancer and other serious diseases.

Nektar's product portfolio and pipeline include a range of clinical-stage and partnered programs.

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