AlphaCrest Capital Management LLC Increases Position in Nektar Therapeutics (NASDAQ:NKTR)

AlphaCrest Capital Management LLC lifted its holdings in Nektar Therapeutics (NASDAQ:NKTRGet Rating) by 269.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 80,101 shares of the biopharmaceutical company’s stock after purchasing an additional 58,405 shares during the period. AlphaCrest Capital Management LLC’s holdings in Nektar Therapeutics were worth $1,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. KBC Group NV boosted its holdings in Nektar Therapeutics by 17.3% in the 4th quarter. KBC Group NV now owns 8,572 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 1,264 shares during the last quarter. Camelot Portfolios LLC acquired a new stake in Nektar Therapeutics in the 4th quarter worth about $136,000. Evoke Wealth LLC acquired a new stake in Nektar Therapeutics in the 3rd quarter worth about $143,000. Frontier Wealth Management LLC acquired a new position in shares of Nektar Therapeutics during the 4th quarter worth approximately $162,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Nektar Therapeutics during the 4th quarter worth approximately $187,000. Hedge funds and other institutional investors own 93.08% of the company’s stock.

Several brokerages have recently weighed in on NKTR. StockNews.com upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday. BTIG Research cut Nektar Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, March 14th. SVB Leerink lowered their target price on Nektar Therapeutics from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Monday, April 18th. William Blair cut Nektar Therapeutics from an “outperform” rating to a “market perform” rating in a report on Monday, March 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Nektar Therapeutics from $24.00 to $17.00 in a report on Tuesday, March 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Nektar Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $13.46.

Shares of NASDAQ NKTR opened at $3.99 on Friday. The firm has a market cap of $743.23 million, a price-to-earnings ratio of -1.49 and a beta of 1.36. Nektar Therapeutics has a 52-week low of $3.52 and a 52-week high of $19.37. The business’s 50 day moving average is $5.49 and its two-hundred day moving average is $10.03.

Nektar Therapeutics (NASDAQ:NKTRGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.23. Nektar Therapeutics had a negative return on equity of 65.64% and a negative net margin of 476.58%. The business had revenue of $24.82 million for the quarter, compared to analyst estimates of $24.89 million. During the same quarter in the prior year, the company earned ($0.68) earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. On average, analysts predict that Nektar Therapeutics will post -2.46 EPS for the current fiscal year.

In related news, CEO Howard W. Robin sold 12,480 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $10.95, for a total value of $136,656.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jonathan Zalevsky sold 10,912 shares of the stock in a transaction on Wednesday, February 16th. The shares were sold at an average price of $10.95, for a total value of $119,486.40. The disclosure for this sale can be found here. Insiders have sold 38,186 shares of company stock worth $418,137 in the last ninety days. Corporate insiders own 2.91% of the company’s stock.

Nektar Therapeutics Company Profile (Get Rating)

Nektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19.

Read More

Want to see what other hedge funds are holding NKTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nektar Therapeutics (NASDAQ:NKTRGet Rating).

Institutional Ownership by Quarter for Nektar Therapeutics (NASDAQ:NKTR)

Receive News & Ratings for Nektar Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nektar Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.