Y Intercept Hong Kong Ltd Boosts Stake in Nektar Therapeutics $NKTR

Key Points

• Y Intercept Hong Kong Ltd increased its Nektar Therapeutics stake by 144.4% in the first quarter, ending with 26,545 shares valued at about $1.91 million.
• Institutional interest in NKTR remains high, with hedge funds and other investors owning 75.88% of the company’s stock. Several firms also boosted positions, including AQR Capital Management, while analysts generally remain positive on the shares.
• Insiders have recently sold stock, including CEO Howard W. Robin and insider Jonathan Zalevsky, even as analysts keep a consensus rating of Moderate Buy with an average price target of $149.62.

Y Intercept Hong Kong Ltd grew its position in shares of Nektar Therapeutics (NASDAQ:NKTR - Free Report) by 144.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,545 shares of the biopharmaceutical company's stock after buying an additional 15,683 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.08% of Nektar Therapeutics worth $1,910,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKTR. AQR Capital Management LLC grew its holdings in shares of Nektar Therapeutics by 336.9% in the first 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. Integrated Wealth Concepts LLC bought a new stake in Nektar Therapeutics during the first quarter worth $68,000. Rhumbline Advisers boosted its position in Nektar Therapeutics by 23.3% in the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company's stock worth $151,000 after purchasing an additional 41,948 shares during the last quarter. Marshall Wace LLP purchased a new position in Nektar Therapeutics in the second quarter worth $367,000. Finally, Headlands Technologies LLC bought a new position in Nektar Therapeutics in the 2nd quarter valued at $65,000. Hedge funds and other institutional investors own 75.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NKTR shares. BTIG Research raised their target price on Nektar Therapeutics from $151.00 to $178.00 and gave the company a "buy" rating in a research report on Monday, April 20th. Jefferies Financial Group reissued a "buy" rating on shares of Nektar Therapeutics in a report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Nektar Therapeutics from a "sell" rating to a "hold" rating in a research report on Sunday, May 17th. Oppenheimer restated an "outperform" rating and set a $140.00 price objective on shares of Nektar Therapeutics in a report on Friday, March 13th. Finally, Piper Sandler lifted their price objective on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.62.

Insider Activity at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total transaction of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares of the company's stock, valued at approximately $3,923,514.40. The trade was a 13.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Zalevsky sold 5,681 shares of the firm's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the transaction, the insider directly owned 9,756 shares of the company's stock, valued at approximately $682,920. The trade was a 36.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 21,862 shares of company stock valued at $1,379,205. 2.50% of the stock is owned by corporate insiders.

Nektar Therapeutics Stock Performance

Shares of NKTR opened at $72.92 on Friday. Nektar Therapeutics has a 52-week low of $21.02 and a 52-week high of $109.00. The stock's 50-day simple moving average is $67.94 and its 200 day simple moving average is $63.65. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -8.66 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR - Get Free Report) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $10.86 million for the quarter, compared to analysts' expectations of $10.69 million. On average, research analysts forecast that Nektar Therapeutics will post -9.45 earnings per share for the current fiscal year.

Nektar Therapeutics Company 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.

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.