Nektar Therapeutics $NKTR Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its position in Nektar Therapeutics (NASDAQ:NKTR) by 3.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 289,050 shares of the biopharmaceutical company’s stock after selling 10,668 shares during the quarter. Primecap Management Co. CA’s holdings in Nektar Therapeutics were worth $16,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NKTR. AQR Capital Management LLC grew its holdings in Nektar Therapeutics by 336.9% in the 1st quarter. AQR Capital Management LLC now owns 3,640,851 shares of the biopharmaceutical company’s stock worth $2,463,000 after buying an additional 2,807,595 shares in the last quarter. Vanguard Group Inc. boosted its position in Nektar Therapeutics by 30.0% during the 3rd quarter. Vanguard Group Inc. now owns 948,647 shares of the biopharmaceutical company’s stock worth $53,978,000 after acquiring an additional 219,155 shares during the period. Emerald Advisers LLC bought a new position in shares of Nektar Therapeutics in the third quarter worth $18,393,000. Emerald Mutual Fund Advisers Trust bought a new position in shares of Nektar Therapeutics in the third quarter worth $13,269,000. Finally, Rhumbline Advisers increased its holdings in shares of Nektar Therapeutics by 23.3% during the first quarter. Rhumbline Advisers now owns 221,761 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 41,948 shares during the period. Institutional investors own 75.88% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NKTR shares. BTIG Research upped their price objective on shares of Nektar Therapeutics from $118.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. B. Riley Financial reaffirmed a “buy” rating and issued a $150.00 price target (up from $105.00) on shares of Nektar Therapeutics in a research note on Monday, February 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nektar Therapeutics in a report on Monday, December 29th. William Blair raised Nektar Therapeutics from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Finally, Piper Sandler restated an “overweight” rating and issued a $105.00 target price on shares of Nektar Therapeutics in a research report on Monday, January 26th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.29.

Insider Buying and Selling

In other news, insider Jonathan Zalevsky sold 3,867 shares of the firm’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $35.67, for a total transaction of $137,935.89. Following the completion of the sale, the insider directly owned 21,354 shares of the company’s stock, valued at $761,697.18. This trade represents a 15.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Howard W. Robin sold 423 shares of Nektar Therapeutics stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $73.00, for a total value of $30,879.00. Following the completion of the transaction, the chief executive officer owned 75,489 shares in the company, valued at $5,510,697. The trade was a 0.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,470 shares of company stock valued at $181,955 over the last 90 days. 5.25% of the stock is currently owned by insiders.

Nektar Therapeutics Trading Up 4.7%

NASDAQ:NKTR opened at $68.98 on Friday. The company has a 50-day moving average of $47.98 and a 200-day moving average of $49.99. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -8.66 and a beta of 1.34. Nektar Therapeutics has a twelve month low of $6.45 and a twelve month high of $75.67.

About Nektar Therapeutics

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.