Voya Investment Management LLC Raises Stock Holdings in Nektar Therapeutics $NKTR

Key Points

• Voya Investment Management LLC increased its holdings in Nektar Therapeutics by 46.8%, owning 266,773 shares worth $181,000 after purchasing an additional 85,094 shares.
• Nektar Therapeutics reported a quarterly loss of ($2.95) EPS, outperforming analyst expectations of ($3.13), with a revenue of $11.18 million exceeding estimates of $9.42 million.
• Research analysts are optimistic about Nektar Therapeutics, with multiple firms raising their price targets and a consensus rating of "Moderate Buy" and a price target of $91.67.

Voya Investment Management LLC lifted its holdings in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 46.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,773 shares of the biopharmaceutical company's stock after purchasing an additional 85,094 shares during the quarter. Voya Investment Management LLC owned 2.15% of Nektar Therapeutics worth $181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Squarepoint Ops LLC purchased a new position in shares of Nektar Therapeutics during the fourth quarter worth about $130,000. Acadian Asset Management LLC grew its position in Nektar Therapeutics by 1.4% during the first quarter. Acadian Asset Management LLC now owns 7,301,734 shares of the biopharmaceutical company's stock valued at $4,961,000 after acquiring an additional 100,645 shares during the last quarter. Nuveen LLC bought a new position in Nektar Therapeutics during the first quarter valued at approximately $222,000. Fred Alger Management LLC bought a new position in Nektar Therapeutics during the first quarter valued at approximately $344,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Nektar Therapeutics during the first quarter valued at approximately $41,000. Hedge funds and other institutional investors own 75.88% of the company's stock.

Nektar Therapeutics Stock Performance

NASDAQ:NKTR opened at $56.90 on Wednesday. The firm has a market cap of $1.08 billion, a PE ratio of -6.47 and a beta of 1.06. Nektar Therapeutics has a fifty-two week low of $6.45 and a fifty-two week high of $61.15. The business has a 50 day moving average price of $35.61 and a 200-day moving average price of $21.17.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported ($2.95) EPS for the quarter, topping analysts' consensus estimates of ($3.13) by $0.18. Nektar Therapeutics had a negative return on equity of 631.43% and a negative net margin of 163.17%.The company had revenue of $11.18 million during the quarter, compared to analyst estimates of $9.42 million. Research analysts predict that Nektar Therapeutics will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. B. Riley increased their price target on shares of Nektar Therapeutics from $85.00 to $105.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. HC Wainwright increased their price target on shares of Nektar Therapeutics to $120.00 and gave the company a "buy" rating in a research report on Tuesday, June 24th. Finally, BTIG Research reiterated a "buy" rating and set a $100.00 price target on shares of Nektar Therapeutics in a research report on Friday, September 19th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Nektar Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.67.

Insiders Place Their Bets

In related news, insider Jonathan Zalevsky sold 1,721 shares of the firm's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $33.52, for a total value of $57,687.92. Following the completion of the sale, the insider owned 17,462 shares of the company's stock, valued at $585,326.24. This trade represents a 8.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Howard W. Robin sold 6,666 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $46.69, for a total value of $311,235.54. Following the completion of the sale, the chief executive officer directly owned 49,342 shares of the company's stock, valued at $2,303,777.98. The trade was a 11.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,178 shares of company stock valued at $938,776 in the last ninety days. 3.71% of the stock is currently owned by insiders.

About Nektar Therapeutics

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.

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