Nektar Therapeutics $NKTR Stock Position Raised by BVF Inc. IL

Key Points

• BVF Inc. IL increased its Nektar Therapeutics stake by 22.2% in the fourth quarter, buying 283,000 more shares and bringing its total to 1.56 million shares. The position was valued at about $65.94 million and represented 7.67% of BVF’s portfolio.
• Institutional ownership remains very high at 75.88%, with several other large investors also adding to or initiating positions in NKTR. Notable holders include AQR Capital Management, Vanguard, Farallon Capital Management, Two Seas Capital, and Armistice Capital.
• Analysts remain broadly bullish on NKTR despite the company’s recent quarterly miss, where EPS came in worse than expected at -$1.82. Wall Street’s average rating is “Moderate Buy,” with a consensus price target of $149.63.

BVF Inc. IL lifted its stake in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 22.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,559,595 shares of the biopharmaceutical company's stock after acquiring an additional 283,000 shares during the quarter. Nektar Therapeutics accounts for 2.2% of BVF Inc. IL's portfolio, making the stock its 15th largest holding. BVF Inc. IL owned 7.67% of Nektar Therapeutics worth $65,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC grew its stake in Nektar Therapeutics by 336.9% during 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 in the last quarter. Vanguard Group Inc. lifted 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 worth $53,978,000 after purchasing an additional 219,155 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Nektar Therapeutics in the third quarter worth approximately $45,008,000. Two Seas Capital LP acquired a new stake in shares of Nektar Therapeutics during the fourth quarter worth approximately $31,506,000. Finally, Armistice Capital LLC grew 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 valued at $25,199,000 after purchasing an additional 328,000 shares in the last quarter. 75.88% of the stock is owned by institutional investors.

Nektar Therapeutics Stock Up 1.1%

NKTR opened at $60.92 on Thursday. The firm has a market capitalization of $2.06 billion, a P/E ratio of -7.24 and a beta of 1.13. The stock's 50 day moving average price is $73.67 and its two-hundred day moving average price is $62.18. Nektar Therapeutics has a 12-month low of $8.27 and a 12-month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.58) by ($0.24). The business had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.69 million. Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. As a group, analysts anticipate that Nektar Therapeutics will post -9.45 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Jonathan Zalevsky sold 5,538 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $60.71, for a total value of $336,211.98. Following the completion of the sale, the insider owned 15,437 shares in the company, valued at approximately $937,180.27. This trade represents a 26.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Howard W. Robin sold 444 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total transaction of $29,086.44. Following the completion of the sale, the chief executive officer owned 75,045 shares of the company's stock, valued at approximately $4,916,197.95. The trade was a 0.59% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,181 shares of company stock worth $378,335 in the last ninety days. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NKTR. HC Wainwright lifted their target price on shares of Nektar Therapeutics from $165.00 to $185.00 and gave the company a "buy" rating in a research note on Monday, April 20th. TD Cowen assumed coverage on Nektar Therapeutics in a research note on Tuesday, March 17th. They issued a "buy" rating on the stock. Piper Sandler boosted their target price on Nektar Therapeutics from $105.00 to $192.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. BTIG Research boosted their target price on Nektar Therapeutics from $151.00 to $178.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Finally, Oppenheimer restated an "outperform" rating and issued a $140.00 target price on shares of Nektar Therapeutics in a research note on Friday, March 13th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $149.63.

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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