Nektar Therapeutics $NKTR Shares Acquired by Swiss National Bank

Swiss National Bank lifted its stake in Nektar Therapeutics (NASDAQ:NKTR) by 50.2% in the first quarter, HoldingsChannel reports. The firm owned 47,900 shares of the biopharmaceutical company’s stock after acquiring an additional 16,000 shares during the quarter. Swiss National Bank’s holdings in Nektar Therapeutics were worth $3,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC purchased a new stake in Nektar Therapeutics during the 1st quarter worth about $209,000. Bank of New York Mellon Corp purchased a new position in shares of Nektar Therapeutics in the 1st quarter valued at about $475,000. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Nektar Therapeutics by 1.2% in the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 256,106 shares of the biopharmaceutical company’s stock valued at $18,427,000 after buying an additional 2,981 shares during the period. Emerald Advisers LLC grew its position in shares of Nektar Therapeutics by 2.7% during the first quarter. Emerald Advisers LLC now owns 394,604 shares of the biopharmaceutical company’s stock worth $28,392,000 after buying an additional 10,262 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Nektar Therapeutics by 144.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 26,545 shares of the biopharmaceutical company’s stock worth $1,910,000 after buying an additional 15,683 shares in the last quarter. 75.88% of the stock is owned by institutional investors and hedge funds.

Nektar Therapeutics Stock Down 0.1%

NKTR stock opened at $70.68 on Thursday. The business has a 50 day moving average price of $65.52 and a 200 day moving average price of $66.19. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -8.39 and a beta of 1.13. Nektar Therapeutics has a fifty-two week low of $21.02 and a fifty-two week high of $109.00.

Nektar Therapeutics (NASDAQ:NKTR) last announced its quarterly 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). Nektar Therapeutics had a negative net margin of 284.18% and a negative return on equity of 85.40%. The company had revenue of $10.86 million during the quarter, compared to analysts’ expectations of $10.69 million. As a group, sell-side analysts anticipate that Nektar Therapeutics will post -9.37 EPS for the current year.

Insider Buying and Selling at Nektar Therapeutics

In other news, CEO Howard W. Robin sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $60.32, for a total value of $603,200.00. Following the completion of the transaction, the chief executive officer owned 65,045 shares in the company, valued at approximately $3,923,514.40. This represents a 13.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jonathan Zalevsky sold 5,681 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $70.00, for a total transaction of $397,670.00. Following the completion of the transaction, the insider directly owned 9,756 shares in the company, valued at $682,920. This trade represents a 36.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 21,862 shares of company stock valued at $1,379,205. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NKTR. Piper Sandler raised their target price on shares of Nektar Therapeutics from $105.00 to $192.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Wall Street Zen raised shares of Nektar Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday, May 17th. Citigroup raised their price objective on shares of Nektar Therapeutics from $123.00 to $151.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Nektar Therapeutics in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Nektar Therapeutics in a research note on Wednesday, April 22nd. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nektar Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $150.00.

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.