Nektar Therapeutics (NKTR) Stake Held by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System maintained its position in shares of Nektar Therapeutics (NASDAQ:NKTR) during the fourth quarter, Holdings Channel reports. The institutional investor owned 102,949 shares of the biopharmaceutical company’s stock at the end of the fourth quarter. State Board of Administration of Florida Retirement System’s holdings in Nektar Therapeutics were worth $1,263,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in NKTR. BlackRock Fund Advisors boosted its position in shares of Nektar Therapeutics by 7.3% in the third quarter. BlackRock Fund Advisors now owns 10,970,974 shares of the biopharmaceutical company’s stock worth $188,481,000 after buying an additional 749,496 shares in the last quarter. RA Capital Management LLC boosted its position in shares of Nektar Therapeutics by 13.6% in the third quarter. RA Capital Management LLC now owns 3,664,154 shares of the biopharmaceutical company’s stock worth $62,950,000 after buying an additional 439,300 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Nektar Therapeutics during the third quarter worth approximately $4,112,000. Rice Hall James & Associates LLC boosted its position in shares of Nektar Therapeutics by 12.3% in the third quarter. Rice Hall James & Associates LLC now owns 1,047,750 shares of the biopharmaceutical company’s stock worth $18,000,000 after buying an additional 114,817 shares in the last quarter. Finally, Dynamic Capital Management Ltd bought a new position in shares of Nektar Therapeutics during the third quarter worth approximately $1,558,000. 86.80% of the stock is currently owned by institutional investors.
Shares of Nektar Therapeutics (NASDAQ:NKTR) opened at 22.11 on Tuesday. The stock’s market cap is $3.40 billion. Nektar Therapeutics has a 52 week low of $11.41 and a 52 week high of $22.32. The firm has a 50-day moving average price of $13.78 and a 200-day moving average price of $14.35.
Nektar Therapeutics (NASDAQ:NKTR) last released its quarterly earnings results on Wednesday, March 1st. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by $0.02. Nektar Therapeutics had a negative return on equity of 8,769.15% and a negative net margin of 98.87%. The firm earned $37.45 million during the quarter, compared to analysts’ expectations of $40.83 million. During the same period in the prior year, the firm posted ($0.40) earnings per share. Nektar Therapeutics’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Nektar Therapeutics will post ($1.35) earnings per share for the current year.
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NKTR has been the topic of a number of recent research reports. Piper Jaffray Companies set a $25.00 target price on Nektar Therapeutics and gave the stock a “buy” rating in a report on Monday, December 12th. Aegis reaffirmed a “buy” rating and issued a $21.00 target price on shares of Nektar Therapeutics in a report on Thursday, March 2nd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $17.00 target price (up from $15.00) on shares of Nektar Therapeutics in a report on Friday, March 3rd. Roth Capital raised their target price on Nektar Therapeutics from $23.00 to $31.00 and gave the stock a “buy” rating in a report on Monday. Finally, BTIG Research initiated coverage on Nektar Therapeutics in a report on Friday, January 6th. They issued a “buy” rating and a $22.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $22.86.
In other news, CFO Gil M. Labrucherie sold 2,359 shares of the business’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $13.14, for a total transaction of $30,997.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Howard W. Robin sold 87,500 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $12.35, for a total transaction of $1,080,625.00. Following the sale, the chief executive officer now directly owns 265,408 shares in the company, valued at $3,277,788.80. The disclosure for this sale can be found here. Insiders have sold 465,689 shares of company stock worth $6,389,028 over the last three months. Corporate insiders own 6.10% of the company’s stock.
About Nektar Therapeutics
Nektar Therapeutics is a biopharmaceutical company. The Company is engaged in the development of a pipeline of drug candidates that utilize its PEGylation and advanced polymer conjugate technology platforms, which are designed to enable the development of new molecular entities that target known mechanisms of action.
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