Squarepoint Ops LLC reduced its position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 94.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,807 shares of the biopharmaceutical company's stock after selling 101,578 shares during the quarter. Squarepoint Ops LLC's holdings in Nektar Therapeutics were worth $405,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of the company. KBC Group NV purchased a new position in Nektar Therapeutics in the 1st quarter worth approximately $52,000. FNY Investment Advisers LLC increased its holdings in shares of Nektar Therapeutics by 15.8% in the 2nd quarter. FNY Investment Advisers LLC now owns 5,500 shares of the biopharmaceutical company's stock worth $383,000 after purchasing an additional 750 shares in the last quarter. State of Wyoming bought a new stake in shares of Nektar Therapeutics in the 1st quarter worth $67,000. Arizona State Retirement System raised its stake in shares of Nektar Therapeutics by 27.3% in the second quarter. Arizona State Retirement System now owns 8,477 shares of the biopharmaceutical company's stock worth $592,000 after purchasing an additional 1,816 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Nektar Therapeutics by 32.5% in the first quarter. Janus Henderson Group PLC now owns 10,729 shares of the biopharmaceutical company's stock worth $771,000 after purchasing an additional 2,629 shares during the last quarter. 75.88% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Nektar Therapeutics news, CEO Howard Robin sold 418 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $71.98, for a total transaction of $30,087.64. Following the sale, the chief executive officer directly owned 54,627 shares of the company's stock, valued at $3,932,051.46. This trade represents a 0.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Jonathan Zalevsky sold 5,681 shares of Nektar Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total value of $397,670.00. Following the sale, the insider directly owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,285 shares of company stock valued at $441,146 in the last quarter. 2.50% of the stock is currently owned by company insiders.
Nektar Therapeutics Stock Performance
Shares of Nektar Therapeutics stock opened at $66.84 on Tuesday. Nektar Therapeutics has a one year low of $33.40 and a one year high of $109.00. The stock's fifty day moving average is $71.71 and its 200 day moving average is $72.02. The stock has a market cap of $2.28 billion, a P/E ratio of -9.98 and a beta of 1.14.
Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The biopharmaceutical company reported ($1.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.97) by $0.74. The business had revenue of $10.13 million during the quarter, compared to analyst estimates of $10.43 million. Nektar Therapeutics had a negative return on equity of 37.87% and a negative net margin of 287.84%. Analysts predict that Nektar Therapeutics will post -8.28 EPS for the current year.
Analyst Ratings Changes
NKTR has been the topic of several recent analyst reports. JPMorgan Chase & Co. began coverage on Nektar Therapeutics in a research report on Friday, August 21st. They set a "neutral" rating and a $65.00 price objective on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Nektar Therapeutics in a research note on Friday, August 28th. TD Cowen raised shares of Nektar Therapeutics to a "strong-buy" rating in a report on Monday, August 24th. BTIG Research reiterated a "buy" rating and issued a $178.00 price target on shares of Nektar Therapeutics in a research note on Wednesday, September 16th. Finally, Canaccord Genuity Group started coverage on shares of Nektar Therapeutics in a report on Wednesday, July 22nd. They set a "buy" rating and a $153.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nektar Therapeutics has an average rating of "Moderate Buy" and an average price target of $141.50.
Check Out Our Latest Stock Report on Nektar Therapeutics
Nektar Therapeutics Company Profile
(
Free Report)
Nektar Therapeutics is a biopharmaceutical company focused on discovering and developing medicines that harness the body's immune system to treat cancer and autoimmune and inflammatory diseases. The company's research is centered on cytokine biology, immune-cell regulation and its proprietary polymer-conjugation technologies, which are designed to modify therapeutic compounds and potentially improve their duration, delivery or tolerability.
Nektar's pipeline has included investigational therapies such as rezpegaldesleukin, an immune-modulating treatment being studied for autoimmune and inflammatory conditions.
Further Reading
Want to see what other hedge funds are holding NKTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nektar Therapeutics (NASDAQ:NKTR - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Nektar Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Nektar Therapeutics wasn't on the list.
While Nektar Therapeutics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
