State of Alaska Department of Revenue cut its position in shares of Nektar Therapeutics (NASDAQ:NKTR) by 3.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,523 shares of the biopharmaceutical company’s stock after selling 1,155 shares during the period. State of Alaska Department of Revenue’s holdings in Nektar Therapeutics were worth $506,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its position in shares of Nektar Therapeutics by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 220,818 shares of the biopharmaceutical company’s stock worth $5,114,000 after acquiring an additional 690 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Nektar Therapeutics by 3.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 27,436 shares of the biopharmaceutical company’s stock worth $635,000 after acquiring an additional 834 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Nektar Therapeutics by 1.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 66,999 shares of the biopharmaceutical company’s stock worth $1,552,000 after acquiring an additional 924 shares in the last quarter. Mountain Capital Investment Advisors Inc raised its position in shares of Nektar Therapeutics by 10.0% in the 2nd quarter. Mountain Capital Investment Advisors Inc now owns 11,000 shares of the biopharmaceutical company’s stock worth $266,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in shares of Nektar Therapeutics by 0.4% in the 2nd quarter. Macquarie Group Ltd. now owns 265,102 shares of the biopharmaceutical company’s stock worth $6,139,000 after acquiring an additional 1,117 shares in the last quarter. 96.43% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently commented on the company. BidaskClub raised Nektar Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 10th. SVB Leerink reduced their price target on Nektar Therapeutics from $18.00 to $17.00 and set a “market perform” rating for the company in a research report on Friday, August 14th. JPMorgan Chase & Co. began coverage on Nektar Therapeutics in a research note on Monday, September 14th. They set a “neutral” rating and a $26.00 target price on the stock. Finally, Oppenheimer restated a “hold” rating and set a $25.00 target price on shares of Nektar Therapeutics in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $30.50.

Nektar Therapeutics stock opened at $17.14 on Friday. The business’s 50-day simple moving average is $18.42 and its two-hundred day simple moving average is $20.55. The company has a market cap of $3.07 billion, a PE ratio of -7.05 and a beta of 1.82. Nektar Therapeutics has a fifty-two week low of $13.63 and a fifty-two week high of $28.60.

Nektar Therapeutics (NASDAQ:NKTR) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.45) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.24. The business had revenue of $48.85 million for the quarter, compared to the consensus estimate of $22.76 million. Nektar Therapeutics had a negative return on equity of 28.23% and a negative net margin of 264.38%. The company’s quarterly revenue was up 109.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.63) EPS. Analysts expect that Nektar Therapeutics will post -2.57 EPS for the current fiscal year.

In other news, CAO Jillian B. Thomsen sold 1,367 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $19.67, for a total value of $26,888.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Chess sold 8,000 shares of the business’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $18.53, for a total value of $148,240.00. Following the completion of the transaction, the director now directly owns 284,973 shares of the company’s stock, valued at approximately $5,280,549.69. The disclosure for this sale can be found here. In the last quarter, insiders have sold 68,226 shares of company stock worth $1,315,198. Company insiders own 2.99% of the company’s stock.

About Nektar Therapeutics

Nektar Therapeutics, a biopharmaceutical company, researches and develops drug candidates for cancer and auto-immune disease in the United States. The company develops NKTR-181, a novel mu-opioid analgesic drug, which is in Phase III clinical trial for chronic low back pain; ONZEALD, a topoisomerase I inhibitor that is in Phase III clinical trial for advanced metastatic breast cancer in patients with brain metastases; and Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in Phase I is designed to provide rapid activation and proliferation of cancer-killing CD8+ effector T cells and NK cells.

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

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