Korea Investment CORP Acquires New Stake in Nektar Therapeutics (NKTR)
Korea Investment CORP acquired a new stake in shares of Nektar Therapeutics (NASDAQ:NKTR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,188 shares of the biopharmaceutical company’s stock, valued at approximately $1,865,000.
A number of other hedge funds also recently modified their holdings of NKTR. FMR LLC raised its position in Nektar Therapeutics by 6.7% during the second quarter. FMR LLC now owns 25,705,902 shares of the biopharmaceutical company’s stock valued at $1,255,220,000 after purchasing an additional 1,608,834 shares during the period. Summit Trail Advisors LLC increased its holdings in Nektar Therapeutics by 3,355.7% during the 1st quarter. Summit Trail Advisors LLC now owns 1,244,272 shares of the biopharmaceutical company’s stock worth $1,244,000 after purchasing an additional 1,208,266 shares during the period. Northern Trust Corp increased its holdings in Nektar Therapeutics by 38.5% during the 1st quarter. Northern Trust Corp now owns 2,605,818 shares of the biopharmaceutical company’s stock worth $276,893,000 after purchasing an additional 723,967 shares during the period. Franklin Resources Inc. purchased a new position in Nektar Therapeutics during the 1st quarter worth $69,643,000. Finally, BB Biotech AG purchased a new position in Nektar Therapeutics during the 2nd quarter worth $25,636,000. Institutional investors and hedge funds own 92.22% of the company’s stock.
NKTR opened at $59.25 on Friday. The company has a current ratio of 19.67, a quick ratio of 19.55 and a debt-to-equity ratio of 0.13. The firm has a market cap of $10.84 billion, a price-to-earnings ratio of 12.67 and a beta of 2.27. Nektar Therapeutics has a 52 week low of $21.11 and a 52 week high of $111.36.
Several research firms have commented on NKTR. JPMorgan Chase & Co. reduced their price objective on Nektar Therapeutics from $90.00 to $78.00 and set an “overweight” rating on the stock in a report on Monday, June 4th. HC Wainwright reduced their price objective on Nektar Therapeutics to $97.00 and set a “buy” rating on the stock in a report on Monday, June 4th. ValuEngine upgraded Nektar Therapeutics from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. BidaskClub downgraded Nektar Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 8th. Finally, TheStreet upgraded Nektar Therapeutics from a “d” rating to a “c” rating in a report on Wednesday, August 8th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Nektar Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $82.91.
In other Nektar Therapeutics news, CEO Howard W. Robin sold 130,000 shares of the stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $49.52, for a total transaction of $6,437,600.00. Following the sale, the chief executive officer now owns 267,690 shares of the company’s stock, valued at approximately $13,256,008.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Howard W. Robin sold 43,334 shares of the stock in a transaction on Monday, June 25th. The shares were sold at an average price of $51.82, for a total value of $2,245,567.88. Following the sale, the chief executive officer now directly owns 267,690 shares in the company, valued at approximately $13,871,695.80. The disclosure for this sale can be found here. Insiders have sold a total of 262,584 shares of company stock worth $14,125,718 in the last ninety days. Insiders own 4.31% of the company’s stock.
Nektar Therapeutics Profile
Nektar Therapeutics, a research-based biopharmaceutical company, discovers and develops drug candidates for cancer, auto-immune disease, and chronic pain in the United States. The company offers ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; NKTR-181, an orally-available mu-opioid analgesic molecule, which is in Phase III clinical trial for moderate to severe chronic pain; NKTR-214, a cytokine immunostimulatory therapy that is in Phase I/II to treat cancer; NKTR-358, which is in Phase I to treat autoimmune diseases; and NKTR-262 for solid tumors, as well as NKTR-255 that is under research/preclinical stage for immuno-oncology.
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