Two Seas Capital LP Invests $31.51 Million in Nektar Therapeutics $NKTR

Two Seas Capital LP purchased a new position in Nektar Therapeutics (NASDAQ:NKTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 745,185 shares of the biopharmaceutical company’s stock, valued at approximately $31,506,000. Nektar Therapeutics accounts for about 0.6% of Two Seas Capital LP’s investment portfolio, making the stock its 19th biggest position. Two Seas Capital LP owned about 3.66% of Nektar Therapeutics at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in Nektar Therapeutics by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 434 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 210 shares in the last quarter. Compass Wealth Management LLC purchased a new position in Nektar Therapeutics in the third quarter worth $88,000. Bessemer Group Inc. grew its position in Nektar Therapeutics by 1,741.2% in the third quarter. Bessemer Group Inc. now owns 1,565 shares of the biopharmaceutical company’s stock worth $90,000 after acquiring an additional 1,480 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in Nektar Therapeutics in the fourth quarter worth $92,000. Finally, Headlands Technologies LLC purchased a new position in Nektar Therapeutics in the second quarter worth $65,000. Institutional investors own 75.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday. BTIG Research upped their target price on shares of Nektar Therapeutics from $151.00 to $178.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Piper Sandler upped their target price 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. Finally, Wedbush cut their target price on shares of Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 11th. Nine investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.63.

Nektar Therapeutics Stock Down 3.4%

NASDAQ NKTR opened at $57.32 on Friday. The company has a 50-day simple moving average of $75.88 and a two-hundred day simple moving average of $62.22. Nektar Therapeutics has a 12-month low of $7.99 and a 12-month high of $109.00. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -6.81 and a beta of 1.13.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $10.86 million for the quarter, compared to analysts’ expectations of $10.69 million. Equities analysts expect that Nektar Therapeutics will post -9.45 earnings per share for the current fiscal year.

Insider Transactions at Nektar Therapeutics

In other Nektar Therapeutics news, CEO Howard W. Robin sold 444 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $65.51, for a total transaction of $29,086.44. Following the completion of the sale, the chief executive officer directly owned 75,045 shares in the company, valued at $4,916,197.95. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.50% of the stock is currently owned by insiders.

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.