ING Groep NV Buys New Position in Nektar Therapeutics $NKTR

ING Groep NV bought a new stake in Nektar Therapeutics (NASDAQ:NKTR) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 100,000 shares of the biopharmaceutical company’s stock, valued at approximately $4,228,000. ING Groep NV owned about 0.49% of Nektar Therapeutics as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Farallon Capital Management LLC acquired a new stake in Nektar Therapeutics in the 3rd quarter valued at approximately $45,008,000. Readystate Asset Management LP acquired a new stake in Nektar Therapeutics in the 3rd quarter valued at approximately $2,563,000. Hudson Bay Capital Management LP acquired a new stake in Nektar Therapeutics in the 3rd quarter valued at approximately $6,127,000. Propel Bio Management LLC acquired a new stake in Nektar Therapeutics in the 3rd quarter valued at approximately $2,788,000. Finally, Persistent Asset Partners Ltd bought a new position in Nektar Therapeutics in the third quarter valued at approximately $983,000. Institutional investors and hedge funds own 75.88% of the company’s stock.

Nektar Therapeutics Stock Down 1.2%

NKTR stock opened at $56.62 on Tuesday. The business has a 50 day moving average price of $75.59 and a two-hundred day moving average price of $62.22. The company has a market cap of $1.91 billion, a price-to-earnings ratio of -6.72 and a beta of 1.13. Nektar Therapeutics has a twelve month low of $7.99 and a twelve month high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($1.58) by ($0.24). The business had revenue of $10.86 million for the quarter, compared to the consensus estimate of $10.69 million. Nektar Therapeutics had a negative return on equity of 85.40% and a negative net margin of 284.18%. On average, equities research analysts anticipate that Nektar Therapeutics will post -9.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NKTR shares. Wedbush decreased their price target on Nektar Therapeutics from $95.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, May 11th. HC Wainwright raised their price target on Nektar Therapeutics from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Wall Street Zen upgraded Nektar Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Citigroup raised their price target on Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Finally, Piper Sandler raised their price target on Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Nektar Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $149.63.

Insider Buying and Selling at Nektar Therapeutics

In related news, CEO Howard W. Robin sold 444 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $65.51, for a total transaction of $29,086.44. Following the transaction, the chief executive officer directly owned 75,045 shares of the company’s stock, valued at approximately $4,916,197.95. The trade was a 0.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 2.50% of the company’s stock.

Nektar Therapeutics 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.